The bankʼs liquidity and its capital strength is solid, and nothing endangers its financial stability, Harmati said, adding that the bank already had information on how and from what source the rumors were circulated, information they will pass on to the police.
Harmati said that Erste had made up for losses stemming from the 2014 borrowersʼ relief legislation and the conversion of FX retail mortgages into forint through a capital raise carried out last year. It closed the fourth quarter with a profit, he added.
In February the bank and government officials announced that the Hungarian state was buying a 15% statke in Erste Bank Hungary and the European Bank for Reconstruction and Development was buying its own 15% stake in the bank.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
