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Major European banks reconfirm commitment to Hungarian units

The six largest foreign banks operating in Hungary on Wednesday reconfirmed their commitment to provide necessary financial support to their Hungarian units, the European Commission announced following a meeting with representatives from the banks.

Bayerische Landesbank, Erste Group Bank AG, Intesa SanPaolo, KBC Group, Raiffeisen International Bank Holding and UniCredit Bank Austria AG issued a joint statement pledging to promptly furnish their Hungarian units with needed capital if circumstances require them to do so.

The banks announced that they are prepared to conduct bilateral negotiations with Hungarian officials regarding the stress-test results of their units operating in Hungary and the measures to be taken to address operational deficiencies manifested in the tests. (MTI – Econews)