Erste Bank board of director member R. Ortner told the Czech-based newspaper Hospodarske noviny that Erste is interested in the sale of the state-owned Postabank of Hungary as it would increase Erste’s presence in the country (Erste Bank Hungary, a 100%-owned subsidiary, is concentrated mostly in western Hungary and Budapest). Moreover, while Erste Bank Hungary is a net borrower, Postabank is a net lender on the Hungarian market. Mr. Ortner added that there are several other possible acquisition targets in Hungary as well. Binding bids for Postabank are due by September 12.
Mr. Ortner also reiterated that Erste remains uninterested in both the Polish and Russian markets since they are too large for the bank to effectively penetrate at present. On the other hand, Erste is eyeing the expected privatization of banks in Bulgaria, Rumania, and Serbia. Neutral.
Jan Hájek