Raiffeisen could leave Hungary
Raiffeisen CEO announced that the bank may leave Hungary, but has not yet made specific plans to do so, Dow Jones reported today.
Raiffeisen Bank International (RBI) today reported about net losses of €100 mln on its Hungarian business. Losses include including the effect of provisioning because of a recently approved legislation on debtors' relief.
The law requires banks to compensate borrowers who incurred losses due to foreign-exchange fluctuations. RBI booked a €116 mln provision for Hungary and said the compensating scheme could cost the bank between EUR 120mln and EUR 160mln, Hungarian news agency MTI reported earlier.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
