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Fitch Affirms Erste Hungary's BBB+ Rating

Ratings

Fitch Ratings has affirmed Erste Bank Hungary's long-term issuer default rating at BBB+ with a negative outlook, the lender said in a disclosure on Friday, according to a report by state news wire MTI.

In an announcement of the rating action on Thursday, Fitch pointed to Austrian owner Erste Group Bank's "high propensity" to support its Hungarian subsidiary.

Erste Bank Hungary has about 11% market share in terms of loans and 7% in customer deposits.

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