ADVERTISEMENT

EBRD, Hungary expected to buy into Erste

MNB

The European Bank for Reconstruction and Development (EBRD) and the Hungarian state will be buying into Erste Bank Hungary, with each increasing the capital of the bank by 15%, the Prime Minister, the EBRD president and the CEO of Erste Bank are expected to announce at 4pm, according to reports. 

Portfolio.hu speculates that the deal was made during negotiations initiated by the bank, in which Erste sought a reduction of Hungary's bank tax. Part of the deal may also be an agreement by Erste, which lost money on its local loan portfolio due to Hungary's new borrower's relief law, to agree to increasing its loan activity.

Meanwhile, there was also anticipation of a major announcement from Raiffeisen Bank, after market closing today. On February 3, Erste Hungary denied reports that it was involved in talks about buying into Raiffeisen's Hungarian operation.

Hungary Motor Fuel Prices Below Regional Average Energy Trade

Hungary Motor Fuel Prices Below Regional Average

EC Advances Infringement Procedure Over Hungary's Sovereignt... EU

EC Advances Infringement Procedure Over Hungary's Sovereignt...

Hell Energy Inaugurates HUF 80 bln Capacity Expansion Manufacturing

Hell Energy Inaugurates HUF 80 bln Capacity Expansion

Puskás Arena to Host 2026 Champions League Final In Budapest

Puskás Arena to Host 2026 Champions League Final

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.