Sberbank targets to boost corporate lending in Hungary to EUR 200mn by end-2012.

By bne IntelliNews July 16, 2012
Russia's biggest lender Sberbank, which completed the purchase of local Magyarorszagi Volksbank on February 15, targets to boost corporate lending in Hungary to EUR 200mn by end-2012, Hungary AM reported, citing deputy chairman Sergey Gorkov. The bank aims for a 5% share on Hungary's market. Sberbank acquired Magyarorszagi Volksbank in 2011 as part of a deal in which it bought Vienna-based Volksbanken International AG (VIA), the eastern European arm of Austria's Oesterreichische Volksbanken. Magyarorszagi Volksbank will be rebranded as Sberbank in 2013.

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