Hungarian banks received good news from Fitch Ratings – UPDATED: new K+H Bank CEO
Fitch Ratings on Thursday affirmed the BBB long-term issuer default ratings of state-owned Magyar Eximbank and Hungarian Development Bank (MFB) and revised the outlooks on the ratings to stable from negative.
The ratings agency also revised Erste Bank Hungary’s and Kereskedelmi es Hitelbank’s (K+H Bank) outlook to stable from negative, while affirming their long term-issuer default rating at BBB+ and shareholder support rating (SSR) at bbb+.
In addition Fitch revised the outlook on MVM’s long-term issuer default ratings (IDR) to stable from negative and affirmed the IDR at BBB.
The rating actions followed the revision of the outlook on Hungary’s BBB sovereign rating to stable from negative on December 6.
UPDATE: K+H Bank to get new CEO
Belgian-owned K+H Bank announced a new CEO on Friday. Peter Roebben, the current CEO of the KBC Group’s Bulgarian unit, will take over from Guy Libot as of January 1. Peter Roebben has filled various positions at KBC since 1991. Guy Libot will fill a new senior management position within the group from February 1. 2025.
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Featured image: illustration, depositphotos.com