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Czech markets  |  November 06, 2012 09:05:24

Erste: Hungarian government over the debts of cities and municipalities in 5000 inhabitants, the scheme could expand

The Hungarian government, which has already decided that over the debts of cities and municipalities in 5000 inhabitants, recently decided that the loss of these debts will also participate in the bank. From the perspective of Erste's not a major problem, as it has exposure to the municipalities in 5000 inhabitants in the amount of EUR 15 million and any losses would be ranged in the low single digit figures. However, there is a risk that the scheme will be gradually extended to larger municipalities and municipal debt losses could therefore be higher in the future.

Erste Group plans to raise capital Romanian subsidiary BCR bank of approximately 500 million RON (111 million) by issuing new shares in BCR. From the perspective of the consolidated figures Erste has this report any major impact, since it is only a transfer of funds within the group.

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Erste: Maďarská vláda převezme dluhy měst a obcí do 5000 obyvatel, schéma by se mohlo rozšiřovat

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