AXA Bank to scale back activity of Hungarian branch
AXA Bank's branch in Hungary will gradually consolidate its client centers in the country because of the impossibility of making outlays on the domestic mortgage lending market and the unfavorable outlook for the mid-term, the branch said on Friday.
The consolidation will start in the middle of March.
In the future, the branch will concentrate on its existing stock of loans and use its resources to support the government's exchange rate-fixing program and collect deposits.
AXA Bank will gradually cease activities at 13 of its client centers in Hungary. From July 1, it will offer to clients two regional centers in Budapest as well as ones in Debrecen, Győr, Pécs and Kecskemét.
AXA Group remains committed to the Hungarian financial market and to its clients for the long term, the branch said.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
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.
