Erste Bank Hungary targets year-end Ft 11bn-12bn stock of EU-related loans
Thursday, November 10, 2005, 16:28
Erste Bank Hungary's stock of loans related to EU-subsidized projects rose dramatically from Ft 3.94 bln to Ft 9.786 bln in the first seven months of the year, and the stock is expected to reach Ft 11bln-12bln by the end of the year, the bank announced on Thursday.
Trombitás said the amount of EU subsidies available to Hungary under the EU's 2007-2013 budget period is expected to rise significantly, strengthening Erste Bank Hungary's position on this segment of the market. He added that EU interest subsidies would play a bigger role in future.
Erste Bank Hungary also expects its stock of guarantees related
to applications for EU funding to grow considerably. The bank's
stock of guarantees rose from Ft 2.388 bln to Ft 4.471 bln in