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Bank Austria will make 2014 profit in Hungary - CEO
July 10, 2014 / 10:08 AM / in 3 years

Bank Austria will make 2014 profit in Hungary - CEO

VIENNA, July 10 (Reuters) - UniCredit unit Bank Austria will make a profit in Hungary this year despite legislation that will hit lenders for foreign-currency lending, Chief Executive Willibald Cernko said on Thursday.

“We will have a positive annual result in Hungary no matter what lies ahead,” he told business journalists. “We will certainly not have to inject more capital.”

Bank Austria, central and eastern Europe’s biggest lender, saw only positive effects from a bank run that hit two lenders in Bulgaria last month, he said, noting its local unit saw deposits swell by a three-digit-million euro amount but the situation had since normalised.

Cernko said the group remained in negotiations to sell its Ukrainian business. “Talks are going on but as you can imagine they are anything but simple given the current political environment,” he said. (Reporting by Michael Shields; Writing by Georgina Prodhan)

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