Sopron Bank expands in western Hungary

Hungary's only non-Budapest based comprehensive financial institution Sopron Bank is to open 2 more branches in the first half of 2005. The bank is fully owned by EB und Hypo Bank Burgenland and already has two branches in Sopron, one in Szombathely, and one in Győr. The next branch will start operating in Keszthely from the first half of February, which is followed by a Veszprém based branch in Q2. According to vice CEO Losonczi Ferenc, there may be another branch opened in Zala county in H2 depending on the results. Sopron Bank was in the red in 2004 and is expected to be so in 2005 as well, however, it is becoming increasingly popular, attributed to its fast credit approval: its outstanding credit stock is soon to top Ft 6 billion. The German bank has invested Ft 9 billion so far in the past 2 years. (Vg 14) E.C.