RBI: No Withdrawal from Hungary

Businessn.a. ♦ Published: January 8, 2014; 21:34 ♦ (Vindobona)

Due to massive losses, the second-largest lender in CESEE was said to leave the difficult Hungarian market. RBI denies such reports.

RBI: No Withdrawal from Hungary / Picture: © Raiffeisen Bank International / K. Keinrath

In mid-November 2013, RBI announced to sell its Ukrainian subsidiary. At that time, CEO Karl Sevelda stressed that RBI will keep its operations in Hungary in spite of the obvious difficulties. Sevelda: „We have invested a lot in Hungary. For RBI, the operations in Hungary are more important than in Ukraine.” A few weeks later, RBI did not exclude leaving Hungary anymore. “Markets…