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Raiffeisen to launch direct bank in Hungary from 2012

Austria's Raiffeisen International plans to offer the services of its direct bank Zuno in Hungary from the beginning of 2012, business daily Napi Gazdaság reported on Wednesday.

Raiffeisen International country director for Hungary Endre Eolyus said the bank informed financial market watchdog PSzÁF of its intentions last week.

Zuno will operate as a branch of Raiffeisen International, the paper said.

Zuno started operating in Slovakia last December and it will enter the Czech market in the summer.