Raiffeisen Bank International (RBI) today reported about net losses of €100 mln on its Hungarian business. Losses include including the effect of provisioning because of a recently approved legislation on debtors’ relief.
The law requires banks to compensate borrowers who incurred losses due to foreign-exchange fluctuations. RBI booked a €116 mln provision for Hungary and said the compensating scheme could cost the bank between EUR 120mln and EUR 160mln, Hungarian news agency MTI reported earlier.
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