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Bawag likely to also sell stake in Hungary’s MKB bank in future

Austrian banking group Bawag P.S.K. AG is likely sell off its 10% stake in Hungary’s MKB Bank Nyrt, according to an unsourced report in the Austrian daily Die Presse.

Yesterday, Bawag P.S.K. AG announced that it will put both its Slovak unit Istrobanka and Czech unit Bawag Bank CZ up for sale as neither had managed to meet the bank’s internal target of attaining a 5% market share.

According to the daily Wiener Zeitung, both Raiffeisen International Bank Holding AG and Austria’s Volksbanken banking group expressed a general interest in Istrobanka and Bawag Bank CZ, while Erste Bank AG and Bank Austria Creditanstalt AG stated their disinterest.

Bawag, which was purchased by US private equity group Cerberus earlier this year, is also selling off its non-banking investments and holdings besides its 10% stake in MKB Bank Nyrt. (Forbes)