The state of Hungary is acquiring 49% stakes in the Hungarian-owned banks Gránit Bank and Széchenyi Kereskedelmi Bank, a resolution by financial market regulator PSZÁF shows. The state raised capital in Gránit Bank by HUF 2.58 billion, subscribing newly issued shares. Gránit Bank aims to operate as a direct bank without a brick and mortar network. Its majority owner is Magyar Tőketársaság, a holding of the construction industry magnate Sándor Demján. Széchenyi Bank’s majority owner is T&T Ingatlanforgalmazó es Vagyonkezelő, a company tied to Government Debt Management Agency (ÁKK) head István Törőcskei.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
