Raiffeisen Injects Eur 55m Into Hungarian Unit
- 29 Jan 2014 8:00 AM
Raiffeisen Bank International injected another 55 million euros into its Hungarian unit before the end of last year, Austrian business daily Wirtschaftsblatt reported. The paper said part of the reason for the injection was the problem of foreign currencydenominated loans.
RBI booked an 81 million euro loss at its business in Hungary in its Q1-Q3 earnings report published in November.
Earlier in January, RBI said it had considered an offer to buy the Hungarian unit, but decided not to divest “under current conditions”.
Széchenyi Bank, a lender in which the state holds a minority stake, was reported to have offered a token 1 euro for the unit, while promising to take over its bad loans.
Source www.hungarymatters.hu
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