The Hungarian government and the EBRD are set to buy a stake in the Hungarian arm of Austrian lender Erste Bank, reported business website Portfolio citing unnamed sources.

Both EBRD and the government will acquire the stake through a capital increase of 15% each.

A spokeswoman of Erste Bank said, "This afternoon there will be a press conference by the government of Hungary together with EBRD, where an agreement regarding the banking sector there will be announced."

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