Are you sure?

Austrian banks are committed to Hungarian units

  Austria’s big banks are committed to Hungary and will ensure the necessary capital for the operation of their units there, National Development and Economy Minister Gordon Bajnai said on Friday, after meeting with the heads of Erste Bank and Raiffeisen Bank as well as Finance Minister Josef Proll.

Many of the Austrian banks in Hungary even plan a slight increase in lending this year, while counting on a growing presence in both Hungary and the region, Bajnai said. Accompanied by Finance Minister János Veres, Bajnai will meet with the chairman of the supervisory board of Bank Austria on Friday evening.

The trip to Vienna was part of a larger tour that aimed to inform Hungary’s most important partners of crisis-management measures the government has taken since October and reach agreements on how the partners could help the country.

The talks in Vienna were constructive and to the point, and meetings with the heads of Austrian banks “ensured us of very concrete support”, Bajnai and Veres said in a statement. “We think that the picture that is being formed of Hungary is worse and more hysterical than warranted compared to the genuine problems. For this reason, it is imperative to inform our most important partners what the Hungarian government is doing, what steps it is taking in the interest of coming out of the crisis,” the statement added.

Proll spoke about Europe taking a united stand on crisis management as well as the necessity for coordination. Bajnai also met with the heads of the 15 most important Austrian companies with presences in Hungary at a meeting of the Industrialists Association. He gave a presentation at the meeting on the real situation of Hungary, its problems and how the government is solving them, as well as steps being taken to put the economy back on the growth track. (MTI-Econews)