Austria's Erste says will not leave Hungary

Reuters

BUDAPEST, Jan 6 (Reuters) - Austria's Erste is committed to its business in Hungary as it trusts that the new strategy of its banking unit there will make its Hungarian operation profitable again within the foreseeable future, it said in a statement on Monday.

Hungarian central bank Governor Gyorgy Matolcsy said last month that four major foreign banks could quit Hungary within the next 18 months.

Foreign banks which have units in Hungary include Austria's Raiffeisen and Erste, Italian lender Intesa Sanpaolo and Unicredit, Belgium's KBC , German bank Bayern LB, Citi and the banking arm of General Electric.

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