Aus­trian banks could profit from Hun­gar­ian savers

The Pak Banker - - Company& -

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

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