Banco Popolare to sell Hungarian unit - newspaper

History

Italy's Banco Popolare will sell its Hungarian unit, Banco Popolare Hungary, the Italian newspaper Il Sole 24 Ore reported on Tuesday.

Banco Popolare Hungary operates ten branches in Hungary – seven in Budapest and three in communities just outside the city. The bank closed 2010 with loss of €4.1 million.

Banco Popolare, Italy's third-largest bank, established its Hungarian unit four years ago.

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