Erste, whose unit Erste Befektetési is one of the most active brokerages on the bourse, sees the acquisition as a strategic investment, MTI reported.
On May 24 the Hungarian Parliament voted to broaden the authority of the Budapest Stock Exchange (BSE), which the bourse welcomed. The government is planning incentives for SMEs to help enter the bourse, according to reports.
The National Bank of Hungary (MNB) officially announced the takeover of the BSE in November when it acquired majority ownership in the institution.
Central bank Deputy Governor Márton Nagy was appointed chairman of the BSE and the MNB pledged to prepare plans for developing the Budapest bourse soon after the takeover.
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