Austrian banks could profit from Hungarian savers
VIENNA: Austrian banks could profit from Hungarian savers searching for a safer place to keep their money, daily Nepszabadsag said on Monday. Many large billboards in Austria advertise local banking services in Hungarian, emphasising stability and security.
Market professionals told the paper that Austrian banks have long been trying to tempt Hungarians to move their savings across the border, and these ads have greater resonance now Hungary's government is winding up the mandatory private pension system.
Even though banks in Burgenland cannot compete with Hungarian banks when it comes to interest rates, the emphasis on safety could successfully tempt clients away from Hungary, the paper said.
Experts say that the Hungarian govt's actions is likely to increase the attraction of foreign banks. - PB News
ISLAMABAD: Federal Minister for Interior Senator A Rehman Malik shaking hand with British High Commissioner Adam Thomson prior to a meeting at Ministry of Interior. -Online