Erste Bank launches home savings units in Hungary.

By bne IntelliNews October 18, 2011
The Hungarian unit of Austrian Erste Bank has launched a housing savings fund named Erste Lakas-takarekpenztar Zrt., the bank announced at its website. The new company targets a market share of 10-12% and expects positive financial results in up to five years. The set-up of the special unit was attributed to the raising savings of the households with the purpose of future home-purchase, the relatively low market penetration in the segment and, consequently, the increase in the role of these funds in the future. OTP Bank an Fundamenta-Lakaskassza are the other two company on the home savings market.

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