Erste Bank has agreed to acquire BNP Paribas Wealth Management's operations in Hungary, a deal that is somewhat surprising given the tough macroeconomic environment in the country. However, as wealthy Hungarians seek to move assets offshore the nation is becoming more attractive. Interim data for 2012 showing declines in the size of the onshore deposit market appear to back up this trend.
While unmanned or automated sites have been an integral part of the forecourt retailing landscape in the Nordic markets for decades, in other parts of Europe this concept of automated payment, no shop and slightly more barren forecourts has never quite managed to take off. But a new wave of openings is now occurring, targeting markets further east.
Through a partnership with Western Union, fuel retailer OMV is set to offer international money transfer facilities across its network in eight Central and Eastern European countries. This is the second recent venture into the financial services space for OMV, and highlights its high focus on expanding and diversifying its service offering to drive customer satisfaction.
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