Hypo leaves Hungary, Bulgaria, Montenegro, Macedonia and Ukraine

Austrian lender Hypo-Alpe-Adria Bank International plans to leave five markets in East Europe.

According to Austrian business newspaper Wirtschaftsblatt, aforementioned bank intends to leave the markets of Hungary, Bulgaria, Montenegro, Macedonia and Ukraine within the process of the restructuring of business. Hypo must submit that plan to the European Union prior to end of this month, although it may ask for extension of the deadline - Wirtschaftsblatt cites the people who are familiar with the bank's plans.