Hungary's MKB bank, controlled by Bayern LB German group, hasofficially embraced an exit strategy related to the Romanianmarket, planning to sell MKB Romexterra Romanian subsidiary by2013.
MKB Romtexterra ended last year with losses of 17.8bn forints(around 64m euros), in line with Hungarian accounting standards.Net interest income dropped by 43% from 2009, to 9.3bn forints,while fee gains halved, to 1.5bn forints.
As a matter of fact, the bank also registered losses in 2009(around 9.5m euros) and 2008 (almost 20m euros), with the positiveoperating result being hurt by losses related to loans unrecoveredfrom clients.
Set up with a heterogeneous shareholder structure in Târgu-Mureşin 1994, Romexterra was taken over by Hungary's MKB in 2006, at atime when the economy and the banking market particularly werebooming.
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