He noted that Hungarian banks had recently been forced to write down big losses, however. Considering how long they are prepared to operate on a market in which profit is not being generated is an absolutely rational question of doing business, he added.
“I hope that there is no pressure on Austrian banks to massively scale back their Hungarian units,” Nowotny said. “In any case, they have to consider which banking activities are worth undertaking on the Hungarian market in the long term…
“Naturally, Hungary is not indifferent to how certain situations turn out, because they can also have a negative effect on the Hungarian economy,” he added.
Austria’s Raiffeisen Bank International recently considered, but rejected, an offer for its Hungary-based business.
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