Matolcsy Sees Four Large Banks Leaving Hungary
- 30 Dec 2013 8:00 AM
Four of the eight largest foreign-owned banks in Hungary might leave the country in the next 12 to 18 months, MNB governor György Matolcsy said on Hír TV. Without naming any banks, he said the institutions are not lending and are not helping the Hungarian economy.
Small and medium-sized Hungarian banks might fill the gap or possibly new Hungarian banks will be founded or existing banks could take over the portfolios of the departing banks, Matolcsy argued.
It cannot be ruled out, he continued, that in the frame of the Opening to the East policy, new Eastern or Asian banks may enter Hungary and fill the gap.
Source: Hungary Around the Clock
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