Erste Bank CEO A. Treichl reiterated yesterday that Erste is interested in acquiring the state-controlled Postabank of Hungary. Hungary is the only key target market where Erste hasn’t much presence (Erste Bank Hungary holds a 5% market share). Given OTP’s dominant market position, an acquisition of a smaller bank seems the only feasible strategy toward penetrating the Hungarian market (Erste’s target is 20-25% of the market). Postabank had EUR 1.5 bil. of assets (No. 7 in Hungary, a 4% market share) and 115 branches at year-end 2001.
Mr. Treichl ruled out Erste’s expansion into Poland as the country is considered too large for Erste to penetrate successfully. Erste has no plan for the Baltic states, either.
Jan Hajek