Erste Bank Hungary acquires Commerzbank Zrt

Banking

Erste Bank Hungary has agreed to acquire 100% of Commerzbank's local corporate banking subsidiary Commerzbank Zrt, Austria's Erste Group said on Friday, according to a report by state news wire MTI.

The transaction is expected to be closed in H2 2022, pending regulatory approval.

Erste Group CEO Bernd Spalt called the acquisition "an important step" for the lender's corporate business in Hungary, adding that it "perfectly complements" Erste's existing customer base in the segment.

 

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