April 23, 2012, 8:15 amThe Hungarian government plans to replace the expiring telecom tax with a new one, a levy on phone calls and Internet usage. The tax will likely have a negative impact on Magyar Telekom therefore Erste...
April 11, 2012, 11:09 am(Adds comment by CIB, Citi, UniCredit) Hungary’s inflation eased in March to 5.5% year on year from 5.9% in February, in line with the consensus estimate of analysts in a Portfolio.hu poll. 2012.04.11...
March 22, 2012, 10:22 amAfter a nearly one-year continuous decline, the economic confidence index of Hungary’s GKI-Erste has risen for the second month in a row in March. The seasonally adjusted index stood at -19 points...
February 29, 2012, 4:19 pmFollowing a hefty loss in the third quarter of 2011 Erste Group posted EUR 254.1 million net profit in the October-December 2011 period, the bank has announced on Wednesday. This is 40% higher than the...
February 29, 2012, 2:21 pmHungary is on the right track, but there is no chance that lending will growth and the Hungarian subsidiary of Erste is unlikely to post profit before 2014, Erste Group Chief Executive Officer Andreas...
February 27, 2012, 1:52 pmIn February 2012, the economic confidence index of Hungary’s GKI Erste has risen to a level last seen in the autumn of 2011, after a nearly one-year continuous decline. The seasonally adjusted index...
February 17, 2012, 1:09 pmHungary’s geothermal energy company PannErgy has successfully drilled its second production well (MAL-PE-02) near Miskolc. The depth of the well is only 1,420 metres and it was reached with better-than-expected...
February 15, 2012, 12:00 pmHungary's central bank (NBH) will stand ready to offset the recent weakening in banks’ capacity to lend by introducing a two-year collateralised credit facility, a new universal mortgage bond purchase...
February 3, 2012, 9:05 amErste has raised its target price for Richter, Hungary’s largest drugs producer, to HUF 45,650 per share from HUF 43,865 previously and reiterated its ‘Buy’ call. “With its fortunes...
February 2, 2012, 9:27 amErste Bank has on Thursday confirmed its ‘Hold’ recommendation for Hungarian telecoms group Magyar Telekom, while it raised its target price by 5% to HUF 580. The higher TP is mainly driven...
February 1, 2012, 4:22 pmErste Bank expects the hit from Hungary's move to let borrowers repay foreign-currency loans at below-market exchange rates to be in line with the provisions for this it built last year, the Austrian lender...
January 25, 2012, 12:00 pm(Adds new comments on page 3 and 4) Against the market’s call for a 50-bp hike, the Monetary Council of the National Bank of Hungary (NBH) has kept the base rate on hold at 7.00% on Tuesday, breaking...
January 18, 2012, 2:50 pmThe crisis Hungary is currently in is self-inflicted, but the government could change all that in four weeks if it really wanted to, said Andreas Treichl, Erste Bank Group AG’s Chief Executive Officer...
January 16, 2012, 11:01 amFitch Ratings downgraded Hungarian banks CIB Bank Zrt's (CIB) and Kereskedelmi és Hitelbank Zrt's (K&H) Long-term Issuer Default Ratings (IDR) to 'BBB' from 'A-' with Negative Outlook and CIB's, K&H's...
December 9, 2011, 10:57 amErste Bank will layoff nearly 15% of its employees and close a quarter of its branches in Hungary, the bank has announced on Friday. The drastic measure is unique among the large banks in the country...
December 8, 2011, 3:45 pmThe heads of Hungary’s commercial banks urged the cabinet to improve the transparency of economic policy, adding that the early repayment scheme of foreign currency loans needs to be stopped urgently....
October 28, 2011, 12:28 pmAs pre-announced on 10 October 2011, significant charges (write-down of goodwill in Hungary and Romania, additional risk provisions in Hungary, and expenses resulting from the change in the fair value...
October 28, 2011, 11:29 amNearly 4,500 Erste Group Bank clients in Hungary with foreign-currency loans have opted so far to take advantage of a law that lets them repay their outstanding debt in one go at below-market rates, the...
October 27, 2011, 3:32 pmEvery negative factor that exerts a negative impact on Hungary’s banking sector affects smaller, Hungarian-owned companies much more severely, said Zsolt Hernádi, Chairman-CEO of fuels group MOL...
October 19, 2011, 8:03 amMagyar Telekom plans to lay off 250 employees in 2012, the Hungarian telecommunications group announced after reacheing an agreement with trade unions on its headcount reduction and other cost efficiency...
