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.

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