ADVERTISEMENT

Erste Bank Group: No plans for Hungary pullout

History

Erste Bank is committed to the Hungarian market and its Hungarian clients, company representatives announced yesterday after a weekend report the bank could pull out of the country. Austria’s Erste Bank Group trusts the management of Erste Bank Hungary will successfully implement a renewal strategy at the unit, making it profitable in the foreseeable future, Erste Bank Hungary said.

Local news daily Magyar Hírlap said in its Saturday issue that Erste Bank could part with its unit in Hungary.

The ’paper also said that the 49% Hungarian state-owned Széchenyi Bank has already put forth an offer for the local unit of Raiffeisen Bank, also Austrian-owned.

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.