RBI: Bad Development in Hungary

„We have countries, which perform bad, such as Hungary. There are countries where there is a slow recovery like the Ukraine. And there are countries like Russia, where we recover quickly. We have drawn down reserves there.“

In Hungary, Stepic anticipates the new financial transaction tax to reach up to € 30m. This year, the Hungarian subsidiary will not need new capital. However, RBI Hungary will not leave the loss zone this year.

In Austria, the business development would be favorable as there are no major credit defaults. The Slovenian subsidiary has sufficient equity, Stepic says.