Raiffeisen, KBC lend to Hungary’s state railway

Raiffeisen Zentralbank Oesterreich AG and Belgium’s KBC Group NV are among five banks lending a total Ft 58.5 billion ($278 million) to Hungary’s unprofitable state railway company MÁV Rt, Napi Gazdaság reported. Sanpaolo IMI SpA’s Inter-Europa Bank, Korea Development Bank, and Hungary’s Takarékszövetkezeti Bank Rt. will also take part in financing MÁV’s operations, the newspaper said. Raiffeisen will lend Ft 28.5 billion, while KBC’s Hungarian unit will provide a loan of Ft 10 billion, the newspaper said.

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