Fitch Affirms Erste Hungary's BBB+ Rating
Fitch Ratings has affirmed Erste Bank Hungary's long-term issuer default rating at BBB+ with a negative outlook, the lender said in a disclosure on Friday, according to a report by state news wire MTI.
In an announcement of the rating action on Thursday, Fitch pointed to Austrian owner Erste Group Bank's "high propensity" to support its Hungarian subsidiary.
Erste Bank Hungary has about 11% market share in terms of loans and 7% in customer deposits.
Subsidized Credit Scheme for SMEs to Launch Tuesday
Wolfgang Puck Brings Int'l Film Industry Glamour to Budapest
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.
