Bawag likely to also sell stake in Hungary’s MKB bank in future
Austrian banking group Bawag P.S.K. AG is likely sell off its 10% stake in Hungary’s MKB Bank Nyrt, according to an unsourced report in the Austrian daily Die Presse.
Yesterday, Bawag P.S.K. AG announced that it will put both its Slovak unit Istrobanka and Czech unit Bawag Bank CZ up for sale as neither had managed to meet the bank’s internal target of attaining a 5% market share.
According to the daily Wiener Zeitung, both Raiffeisen International Bank Holding AG and Austria’s Volksbanken banking group expressed a general interest in Istrobanka and Bawag Bank CZ, while Erste Bank AG and Bank Austria Creditanstalt AG stated their disinterest.
Bawag, which was purchased by US private equity group Cerberus earlier this year, is also selling off its non-banking investments and holdings besides its 10% stake in MKB Bank Nyrt. (Forbes)
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.