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. |
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