Raiffeisen Bank International AG, eastern Europe’s third-biggest lender, is planning to relocate staff to eastern Hungary.
The jobs are back office, spokesman Michael Palzer said in an e-mailed response to questions. “This is a move of staff, not a creation of new jobs.”
The bank’s Hungarian unit said earlier today in an invitation to a press conference that it plans to hire “several hundred” people in the eastern city of Nyiregyhaza, with details due at 3 p.m.
The Hungarian banking sector was unprofitable in 2011 for the first time in 13 years, after banks were hit by losses on foreign-currency loans and by Europe’s highest bank levy. Raiffeisen had a 355 million-euro loss in the country last year. The Vienna-based lender cut 8 percent of jobs in Hungary in 2011 and said in March that it plans further reductions this year.