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Hungary

Austrian Government Highlights Close Relations to Hungary

“Border region between Austria and Hungary as a dynamic place.”

September 21, 2013

Banking in CESEE: Risk Provisions to Decline

Analysts of Austrian Erste Group expect the Eurozone and the countries of Central and Eastern Europe to recover. The banking sector participates in the economic upwsing.

September 20, 2013

Bank Austria to Close Subsidiaries in Hungary

Because of higher costs caused by a tax on financial transaction, which was introduced during the current year, the affiliate of Italian UniCredit intends to downsize operations in Hungary.

September 19, 2013

Hungary: Orban Forecasts Growth of 2 Percent

Hungarian Prime Minister Viktor Orban forecasts economic growth of 2 percent next year as the country has managed to surpass several difficulties.

September 18, 2013

CESEE Banking: Funding Improves

Regarding the stability of the banking system in the CESEE region, there are still substantial differences between the countries.

September 18, 2013

RBI Revises Expected Provisioning Requirement

Vienna-based Raiffeisen Bank International AG (RBI) has revised its outlook for the net provisioning requirement for the current financial year.

September 16, 2013

Boom in CESEE Will not Return

In the next years, the growth rates of the pre-crisis will not come back in the CESEE region. For the banking industry, the region is still a substantial risk factor.

September 14, 2013

Hungary: Monetary Easing Policy to be Continued

Hungary´s National Bank MNB has decided to extend the “lending for growth” program until 2014. In total, the program´s volume comes at € 7.0bn.

September 12, 2013

Orban on Foreign Banks: „Colonization is Over“

Hungary´s Prime Minister Viktor Orban emphasizes that foreign banks have to pay for foreign exchange loans.

September 9, 2013

Hungary May Reprogram EU Regional Aid

Hungary is faced with the reprograming of up to 5 percent or a volume of up to € 250m of its current EU regional aid.

September 9, 2013

Hungary: New Threats for Foreign Banks

Hungary´s government is determined to convert foreign exchange loans at the expense of banks again.

September 6, 2013

Austrian Banks Register Growing NPL

The advisory group pwc has issued a new report on the asset quality of Austrian banks. In terms of asset quality, Hungary and Romania are performing worst.

September 5, 2013

Hungarian Government Wants Further FX Debt Reliefs

The government has talks with the Hungarian banking association. In order to de-burden indebted Hungarian households, Prime Minister Viktor Orban wants to reach a debt relief plan.

September 4, 2013

Austrian Banking Sector Burdened Heavily With NPL

In total, non-performing loans held by Austrian banks come at € 150bn. This corresponds to 48% of Austria´s GDP.

September 2, 2013

Hungary: Another Base Rate Cut

Hungary´s National Bank (MNB) has cut the base rate from 4.00% to 3.80%. This is a new record low. Nevertheless, MNB was expected to decide a lower cut.

August 31, 2013

Austria: Bawag to Pay Back Further State Aid

Due to lower costs and provision profits of the Austrian bank Bawag increased. From the coming year on the bank intends to pay back further state aids and plans on further withdrawing from CESEE.

August 27, 2013

Adria Airways to be Acquired by China Southern Airlines

Chinese Southern Airlines wants to gain a foothold in the Slovenian air traffic sector. Besides Adria Airways, Ljubljana Airport will be privatized.

August 25, 2013

CESEE Faces Economic Recovery

According to Moody´s, the economic outlook for Central, Eastern and Southeastern Europe is positive. Nevertheless, the recovery is still fragile.

August 24, 2013

Austria: “Painful Cuts“ at RBI

According to the most recent results, the bank has losses in profits of more then 60 percent. A strict cost reduction program

August 22, 2013

RBI: Analysts Expect Drastic Losses of 60 Percent

The Hungarian market in particulary is giving Raiffeisen Bank International (RBI) a hard fight. Business has been on an all time low for years.

August 21, 2013

RBI´s CEO Sevelda: Drastic Losses in Hungary

Next week, Vienna-listed RBI (Raiffeisen Bank International) will present the results for the first half year of 2013. RBI will put effort into selective growth strategies.

August 17, 2013

Ukraine Reduces Imports of Gas by 35 Percent

From January to June 2013, Ukraine was able to reduce gas import by more than 35 percent compared to the same period last year, according to Ukrainian Statistics Service.

August 16, 2013

Hungary to Pay Back IMF Credit

A year earlier than necessary € 2.15bn go back to the International Monetary Fund (IMF).

August 14, 2013

Austria: Banks Indignant At Chancellor Faymann

Chancellor Werner Faymann has started the election campaign with an attack against the banks. However, CEO of Bank Austria Willibald Cernko points out that the banking industry secures 70,000 jobs in Austria.

August 9, 2013

Hungary: Land Reform Evokes Conflict

“Hungarian soil belongs to Hungarian people“. This is the maxim of national-conservative ruling party of Prime Minister Viktor Orban.

August 8, 2013

Raiffeisen Bank International AG - SWOT Analysis & Company Report

This report contains in depth information and data about Raiffeisen Bank International AG and its operations and markets. It contains a company overview, business and strategy description, financial ratios, valuation & forecast data and a SWOT analysis.

August 8, 2013

UniCredit: No Withdrawal from Hungary

CEO of UniCredit Federico Ghizzoni has rejected rumors about disengagement plans from Hungary.

August 7, 2013

Credit Crunch in CESEE?

The capital outflow in the CESEE region accelerates. The European Bank for Reconstruction and Development (EBRD) fears negative consequences for the real economy.

August 7, 2013

UniCredit to Focus on Poland, Turkey and Russia

UniCredit´s CEO pursues a selective growth strategy. The Austrian subsidiary recorded losses in the retail segment.

August 6, 2013

Hungary: Industrial Production Still Declines

In June 2013 – according to preliminary data – industrial gross output declined by 0.6% compared to the same month of 2012.

August 6, 2013

„CESEE Will Come Back“

Andreas Brandstetter, CEO of the Austrian insurance group Uniqa, thinks that Central and Eastern Europe will recover.

August 6, 2013

RBI Considers Withdrawing from Hungary

The Austrian banking group Raiffeisen Bank International wants to focus on other markets. Hungary and Slovenia are shrinking markets, CEO Karl Sevelda says.

August 6, 2013

CESEE: „Growth Story Did Not End“

In an interview with the Austrian newspaper “Presse”, chairman of the CEESEG supervisory board Willibald Cernko explains that Central and Eastern Europe needs a new growth model.

August 3, 2013

Hungary: Exports Growing Moderately

External trade showed a surplus of EUR 641 million in May.

August 2, 2013

CESEE Remains Attractive for Austrian Investors

According to a survey, the region of CESEE is still attractive to Austrian investors. Particulary the bigger countries – Poland, Turkey and Russia – are becoming even more popular.

August 1, 2013

RBI Trying to Avoid Becoming “Cash Cow“ in Hungary

In an interview with “Wirtschaftsblatt“, CEO of RBI Karl Sevelda talks about further burdens in Hungary and the bank’s reaction to them, capital increase and how participation capital can be replaced.

July 29, 2013

Hungary Abandons Radical Resolution On Foreign Exchange Loans

Foreign currency denominated mortgages for home purchases shall be phased out.

July 25, 2013

Orban: Not Joining Eurozone in the Next Ten Years

Hungary´s Prime Minister thinks that his country should not become a member of the euro area in the medium term.

July 23, 2013

Hungarian Central Bank Cuts Base Rate Again

At its meeting on 23 July 2013, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 25 basis points from 4.25% to 4.00%, with effect from 24 July 2013.

July 23, 2013

Hungary Plans New Burden for Banks

Hungarian households are still over-indebted. Prime Minister Viktor Orban aims to help them on the expense of the banking sector.

July 23, 2013

CESEE Countries Show More Fiscal Discipline

Euro area government debt up to 92.2% of GDP. EU27 debt up to 85.9%. The debt increase in Hungary, Poland, Bulgaria, Romania and the Baltic countries was very decent or even negative.

July 22, 2013

Hungary: Net Earnings Grew Substantially

In the national economy – at corporations employing at least 5 persons, budgetary and designated non-profit institutions – average gross earnings increased by 3.3%

July 19, 2013

EU: Highest Inflation in Romania, lowest in Poland

Euro area annual inflation up to 1.6%. In the EU, the inflation was up to 1.7%

July 17, 2013

IMF to Leave Hungary

Hungary´s National Bank MNB has called the IMF to close its representative office. Hungary wants to repay the loan facility provided by the IMF soon.

July 16, 2013

RBI Plans on Reconstructing Branch Banks

The new concept of Karl Sevelda, successor of former CEO Herbert Stepic, is becoming clearer. He has inherited the task to reconstruct the capital of Basel-III.

July 15, 2013

Erste Group Bank AG - SWOT Analysis & Company Report

This report contains in depth information and data about Erste Group and its operations and markets. It contains a company overview, business and strategy description, financial ratios, valuation & forecast data, SWOT analysis, plus data on key events.

July 12, 2013

Russia to Reduce Oil Export

Russia produces more oil which is increasingly used in the country itself. Refineries outside of Russia do not fear immediate bottlenecks in the supply of oil.

July 11, 2013

Dispute about Ina in Hungary and Croatia Escalates

The Croatian prosecution is once more investigating due to bribe payment to former Prime Minister Sanader. Head of Mol, Hernadi, is faced with a possible detention order.

July 11, 2013

Ukraine Looking for Alternative Gas Suppliers

Gas supply from Europe to Ukraine may stimulate pricing of Russian import.

July 8, 2013

Orban Accuses European Union of “Soviet-style Methods”

Hungarian Prime Minister Viktor Orban criticized the “troops of bureaucrats" who were unable to solve the economic crisis in Europe and who were now trying to denounce Hungary, which was on the road to recovery again.

July 5, 2013