The Hungarian unit of Austrian Erste Bank plans to cut 9% of its workforce by end-2010 in effort to offset the negative impact from the extraordinary tax on the bank's financial results, Budapest Business Journal reported, quoting a bank statement. The measure would affect some 250 employees of the bank. Erste Bank Hungary posted a net profit of HUF 6.8bn (EUR 24.8mn) in H1, down by 56.5% y/y. It is one of the largest banks on local market in terms of total asset volume with HUF 3tn as at end-June. |
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Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more
The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more
The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more