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Erste: FX law cuts assets by more than 10%

MNB

The net assets of Erste Bank Hungary dropped more than 10% by the end of June from the end of 2013 as a result of provisioning made necessary by a recently-passed law on debt relief, the bank announced.

The figures are non-audited and the risk provisions necessary are estimates. Erste Bank said that its capital adequacy ratio still remained over the legal requirement.

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