RBI: Bad Development in Hungary

People ♦ Published: July 21, 2012; 18:56 ♦ (Vindobona)

Herbert Stepic, CEO of Raiffeisen Bank International expects that the development of non-performing loans is stable this year.

RBI: Bad Development in Hungary / Picture: © Flickr / St. Petersburg International Economic Forum

„We have countries, which perform bad, such as Hungary. There are countries where there is a slow recovery like the Ukraine. And there are countries like Russia, where we recover quickly. We have drawn down reserves there.“

In Hungary, Stepic anticipates the new financial transaction tax to reach up to € 30m. This year, the Hungarian subsidiary will not need new capital.…