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Hungarian Raiffeisen-Erste deal rumored

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Even though an anticipated announcement by Raiffeisen Bank in Hungary did not take place today, news of a deal can be expected soon, and it will involve Erste Bank Hungary, sources said.

Raiffeisen Bank International, which recently denied reports that it would sell its Hungarian unit to Erste Bank, is said to be considering divesting some of its assets in Hungary. According to reports, announcement of a deal can be expected soon, and it is likely to involve Erste, which today announced that it is receiving a capital boost from the European Bank for Reconstruction and Development and the Hungarian state.

Rumors of Raiffeisen's exit from Hungary have circulated for some time, but according to sources, the bank will not leave until it receives an appropriate value for its assets.

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