ADVERTISEMENT

Raiffeisen to 'optimize' business in Hungary

History

Austria's Raiffeisen Bank International (RBI) is planning to “optimize” its business in Hungary, Hungarian news agency MTI cited RBI as saying today.

“In Hungary further optimization of the operation will be undertaken," RBI said in an announcement released together with its Q4 earnings report. RBI added that it will sell its businesses in Poland and Slovenia, while also reducing its exposure in the Russian market.

Although it is not clear what their intentions are in Hungary, there are rumors that RBI's Hungarian subsidiary could be bought by ERSTE, rumors which both parties deny.

According to the memorandum of understanding between the government and the European Bank of Reconstruction and Development (EBRD) achieved yesterday, the Hungarian state is not willing to acquire majority share in a privately owned bank, thereby dismissing rumours that Raiffeisen could be bought by the state.

 

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.