Raiffeisen’s Chief Executive: Withdrawal From Hungary Not On Agenda

  • 25 Sep 2014 7:30 AM
Raiffeisen’s Chief Executive: Withdrawal From Hungary Not On Agenda
The sale of Raiffeisen Bank’s Hungarian unit is not on the agenda of the parent company, Heinz Wiedner, chief executive of Raiffeisen Bank Zrt told Monday’s Napi Gazdasag. In the first half of this year, every business segment of the bank was profitable, even if the bank was forced to book a serious loss on the back of government measures to compensate clients with foreign currency loans.

Wiedner said there was not a lot of room for optimism as regards the forex lawsuits, based on the preliminary rulings.

He added that his bank is adamant that it lent in foreign currency in line with the relevant laws at the time. Investors are needed in Hungary, he said, adding that this does not happen without trust.

The financial sector plays an important part in this -- a reason also to reduce the bank tax, the chief executive added.

Source www.hungarymatters.hu

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