RBI CEO: “Worst is over” for Hungarian banks

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When asked by Austrian daily newspaper Die Presse if he feared more measures against banks by the Hungarian government, Raiffeisen Bank International (RBI) CEO Karl Sevelda said the “worst is over.”

Said Sevelda, “I believe that the worst is over in Hungary. The government now also has a state bank. And in Hungary, too, the notion is slowly prevailing that a healthy banking presence is necessary for healthy economic development,” Sevelda said in an interview published on Die Presse’s website late Sunday.

Sevelda noted that RBI had received several offers for its Hungary-based operations and the bank had negotiated further with a single investor. “The offer did not meet our conditions. With that, the sale became a non-issue,” he added.

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