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.

 

ADVERTISEMENT

Insurers' Premiums Revenue Climbs 5% in 2023 Figures

Insurers' Premiums Revenue Climbs 5% in 2023

Fidesz-KDNP Nominates Constitutional Court Head for Presiden... Government

Fidesz-KDNP Nominates Constitutional Court Head for Presiden...

Wider Margins Lift Magyar Telekom Earnings Telco

Wider Margins Lift Magyar Telekom Earnings

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

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.