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Hungary in Austria | Hungarians in Vienna | Bilateral Relations

CEE Countries Condemn Russian Intervention in Ukraine

Foreign Ministers of the Visegrad countries (Poland, Czech Republic, Slovakia and Hungary) want to strengthen the EU defense policy. Poland intensifies its military cooperation with the U.S.

March 8, 2014

Hungary: OTP Bank’s Profits Vanished by Provisions and Taxes

A decrease on the operating profit, increasing risk provisions and taxes drained almost all profits made in the fourth quarter last year.

March 7, 2014

Polish Financial Market Proves Strong

The financial market in Poland is resistant towards negative impacts resulting from the current political crisis in neighbor country Ukraine.

March 5, 2014

UNIQA Insurance Group New in the ATX

The ATX Committee decided to include the two companies, UNIQA Insurance Group and Flughafen Wien to the ATX today.

March 5, 2014

Poland: Banks Expected to Preserve Ratings

According to US rating agency Standard&Poor;’s, Polish banks will be able to keep their credit ratings this year.

March 4, 2014

Raiffeisen Bank International Postpones Sale of Ukrainian Affiliate

Due to the extremely tense situation in Ukraine, the second-largest lender in CESEE (Central, Eastern and Southeastern Europe) has stopped the sale of Aval Bank.

March 3, 2014

Hungarian Property Market Crisis Sharpens

In 2013, the building activity in the residential property sector fell dramatically. A soon recovery is more than unlikely.

March 1, 2014

Polish Currency Suffers from Instability in Ukraine

The Polish Zloty has become weaker because of the political instability in Ukraine.

February 28, 2014

Hungary: Customers Fleeced by Banks

For the first time in three years Hungarian commercial banks have returned to profitability. However, extra cost, caused by political circumstances, was passed on to clients.

February 26, 2014

CEE Financial Markets under Pressure as Riots Continue in Ukraine

CEE markets under pressure as Ukraine violence heats up. Biggest direct risk to Polish Zloty, but also to Hungarian Forint and Romanian Leu.

February 21, 2014

Austria Most Popular Country among Hungarians

93 percent of Hungarians feel compassion towards Austria.

February 19, 2014

Hypo Bankruptcy Could Severly Harm BayernLB

Rating agency Moody’s sees German BayernLB impacted by the critical capital situation in the coming years.

February 18, 2014

Erste: CEE Financial Market Not Concerned by Low Inflation

Low inflation will not change CEE market forecasts, according to Erste Group.

February 18, 2014

Romania: Fit for Eurozone?

According to estimates by the Romanian government, the country is fit for joining the single currency union.

February 17, 2014

Dramatic Capital Outflow in CESEE

The countries of Central, Eastern and Southeastern Europe suffer from the dependence on foreign investments. Despite the economic recovery, FDIs are falling persistently.

February 15, 2014

Ukraine: Tough Market for Foreign Banks

The coming two years will be challenging for foreign banks operating in Ukraine.

February 11, 2014

CEE: Still Growth Market in Real Estate Sector

The region is still a growth market in the real estate sector even after the crisis. However, the legal situation in some CEE countries can be a pitfall to real estate companies.

February 10, 2014

Ukraine: RBI Examines Offers

Raiffeisen Bank International (RBI) has received a total of twelve offers for its Ukranian affiliate.

February 10, 2014

Hungary: Why Orban Faces Another Victory

At the beginning of April, Hungary will hold elections. Despite a high level of dissatisfaction and political frustration, there will be no government change.

February 7, 2014 · Updated: February 7, 2014; 17:59

FHB Bank Acquires Stake in Takarek Bank

The largest Hungarian mortgage bank becomes a core shareholder of the Hungarian savings bank Takarek Bank. Takarekbank is an umbrella bank for the Hungarian savings bank sector.

February 7, 2014

“Fragile Recovery in CEE Banking Sector”

According to the U.S. rating agency Fitch, the banking sector in Central and Eastern Europe is highly heterogeneous.

February 6, 2014

CESEE: Stuck in Transition or Just a Break?

Despite all difficulties in Central, Eastern and Southeastern Europe, the region remains essential for Austria. The long-term growth potential remains intact.

February 6, 2014 · Updated: February 6, 2014; 13:41

Hungarian National Bank: Market Manipulation Caused Fall in Forint

Hungary´s currency is under pressure again. In the last few weeks, the Forint has fallen substantially against the euro.

February 5, 2014

Roubini: Hungary in Difficulties

A number of emerging countries are facing enormous problems, according to economist Nouriel Roubini. Also countries in Central, Eastern and Southeastern Europe are affected.

February 5, 2014

„Hungary and Austria Must not Become Enemies“

Ewald Nowotny, governor of the Austrian National Bank (OeNB) wants a solution between the Hungarian government and the Austrian banking sector.

February 4, 2014

EBRD: CESEE Not Under Pressure Yet

According to the European Bank for Reconstruction and Development, most countries in CESEE are relatively unaffected despite the renewed pressure on emerging markets.

February 4, 2014

CESEE: Corruption Is Still a Major Obstacle

The European Commission has published its first Anti-Corruption Report today. Above all, the economies in Southern and Southeastern Europe are suffering from corruption.

February 3, 2014

„We Must Watch CESEE Very Carefully“

In an interview with the Austrian daily „Standard“, board member of Österreichische Kontrollbank AG Angelika Sommer-Hemetsberger said that the economic crisis in CESEE is not over yet.

February 3, 2014

Hungary: Next Currency Crisis Ahead

The extremely loose monetary policy begins to become a problem for Hungary. The forint exchange rate is going up considerably.

February 1, 2014

KBC Does Not Leave Hungary

The Belgian lender rejected rumors saying that the Hungarian unit may be sold. Not only KBC faces enormous difficulties in Hungary.

February 1, 2014

OTP: Takeover of Croatian Banco Popolare Fixed

On Friday Hungarian OTP signed a deal to take over Croatian affiliate of Italian Banco Popolare.

January 31, 2014

Hungary: Stable Economy, Weak Currency

According to Prime Minister Orban the volatility of the Hungarian Forint is based on global factors.

January 31, 2014

VSE and Kazakhstan Stock Exchange to Intensify Cooperations

Vienna Stock Exchange (VSE) and Kazakhstan Stock Exchange intensify cooperation – joint data vending agreed.

January 30, 2014

CESEE: Overtaking Western Europe Not Before 2055

According to the European Bank for Reconstruction and Development, the transition period of Central, Eastern and Southeastern Europe will take longer than initially expected.

January 29, 2014

Capital Increase at RBI Hungary

RBI (Raiffeisen Bank International) will make a capital injection of € 55m in its Hungarian affiliate

January 28, 2014

OECD Shows Great Concern over Hungarian Economy

According to the OECD, the country’s recovery from recession will be weak in 2014 and 2015

January 27, 2014

Austria: Sberbank Affected By Further Costs

Sberbank is faced with further aids for Austrian Volksbank International (VBI). So far the Russian bank has pumped a total of € 1.3bn into Sberbank Europe.

January 27, 2014

Hungary Faces Trend Reversal in Monetary Policy

The Hungarian National Bank (MNB) has cut the reference rate to 2.85% from 3.00%. The end of the easing cycle is not reached yet.

January 25, 2014

RBI Not to Be Sold to Hungarian State

Hungarian Minister Varga announced that the Hungarian state had no interest in taking over RBI’s local affiliate. Instead, RBI announced that staying in Hungary was “the right decision”.

January 23, 2014

CESEE: Recovery Remains Modest

The European Bank for Reconstruction and Development (EBRD) has published a report on the regional economic prospects. The economic recovery in CESEE remains fragile.

January 23, 2014

Insurance Industry Faces Growing Risks

According to the U.S. rating agency Fitch, insurers in Europe have to accept riskier investments. Ratings may deteriorate, Fitch warned.

January 22, 2014

Erste to Maintain Business in Hungary

According to CEO of Erste Group’s Hungarian affiliate, the bank will remain in the country to expand business activity.

January 21, 2014

Croatia: Hungarian OTP to Acquire Banco Popolare Croatia

OTP will, according to media reports, take over Banco Popolare Croatia which has a market share of only 0.56 percent.

January 21, 2014

Kotian: “Growth in CEE is Accelerating“

In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.

January 20, 2014

„Hungarian Economy Must be Rearranged“

István Töröcskei thinks that the Hungarian banking sector is highly interesting. In general, the financial sector must help to develop the Hungarian economy, Töröcskei argues.

January 18, 2014

Oberbank Continues Expansion Strategy

The Austrian regional bank considers Vienna and the Czech Republic as potential growth markets.

January 17, 2014

Hungary: Forex Loan Problem to be Solved

According to the Hungarian National Bank (MNB), the problem of the foreign-exchange loans could be solved in the next half year.

January 17, 2014

WSE to Become Regional Leader?

The Warsaw Stock Exchange (WSE) hopes to take over a “dominant” role in trading in Central Europe, as announced by GPW, the bourse’s operator, on Thursday.

January 17, 2014

Expansion Course of Austrian Banks Slowed Down

After the financial crisis cooled down the expansion course of Austrian banks in CESEE countries was dampened down.

January 16, 2014

CESEE: Massive Increase in Real Estate Investments

In Central, Eastern and Southeastern Europe, the total volume of real estate transactions totaled € 10.bn last year. Most transactions were recorded in Russia and Poland.

January 15, 2014