Erste Receives Regulatory Approval for Commerzbank Acquisition

Banking

Erste Bank Hungary has received regulatory approval and can move forward with its acquisition of a 100% stake in Commerzbank's local corporate banking subsidiary Commerzbank Zrt, Erste said on Friday, according to a report by state news wire MTI.

Preparations are underway and the transaction is expected to be closed in H2 2022, Erste said. Erste agreed to buy Commerzbank Zrt. in December 2021.

Commerzbank has a strong market presence in Hungary in the field of corporate lending, trade financing, and foreign exchange segment, Erste said.

Following the acquisition Erste's share in the corporate loan market will rise to over 10%, it added.

ADVERTISEMENT

Czech Republic Manufacturing PMI Lowest Since May 2020 Analysis

Czech Republic Manufacturing PMI Lowest Since May 2020

Gov't Mulls Bailout for Dunaferr Government

Gov't Mulls Bailout for Dunaferr

Blue Chip Art and Passion Assets - Claudia Worthington Hess ... Podcasts

Blue Chip Art and Passion Assets - Claudia Worthington Hess ...

Magyar Posta to Close 35 Post Offices in Capital City

Magyar Posta to Close 35 Post Offices in Capital

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.