BayernLB books €131 mln loss at Hungarian unit in Q1-Q3
Germany's BayernLB Group on Thursday said it booked a €131m pre-tax loss at its Hungarian unit MKB in Q1-Q3. The loss narrowed from negative earnings of €186 million in the same period a year earlier. BayernLB blamed the loss on Hungary's "disproportionately high" bank levy and the country's poorly performing economy. It said risk provisions for MKB climbed by €83 million to €152 million during the period, "primarily triggered by the difficult economic climate in Hungary".
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