Intesa Sanpaolo to invest HUF 38 bln into Hungarian unit

Telco

CIB Bank on Wednesday said its owner, Italy's Intesa Sanpaolo, would raise its capital by HUF 38 bln, MTI news agency reported. 

Intesa Sanpaolo decided to raise capital at the bank by HUF 13.7 bln in October and by HUF 15.4 bln in July. CIB Bank had a first-half loss of HUF 33.8 bln, as it set aside provisions for refunds it must pay under borrowers' relief legislation approved this summer.

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