Hungarian banks are in the news, as the newspaper Napi Gazdasag claimed sources at Credit Agricole as saying that the bank’s Hungarian operations were to be ended as part of job cuts that had been announced prevously. It was also announced that Bayerische Landesbank’s MKB Bank unit had installed Pal Simak in the role of CEO, in place of Tamas Erdei, who quit. Simak was previously the bank’s deputy chief executive officer. In late January, the bank announced a capital increase (subscribed by Bayerische) to meet its obligations under banking regulations.
