According to Forbes, citing (9 886 HUF, 1,66%) Bank spokesman, Bank is not threatened by liquidity problems in financial markets and has no need of special ECB funds. The bank has stated that the securitised mortgage loans that cause losses to funds are not a risk in Hungary as there has not been a similar securitisation of mortgage loans. According to the management, does not hold any ABS-type financial (23 EUR, -4,48%).
Our view: With a negative sentiment towards financial institutions stocks, due to situation at the sub-prime mortgage market in USA and financial shortages, we believe the news is positive, and should be slightly supportive for the stock price.