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Watchdog approves Kafijat-Gazprom transaction

The State Financial Institutions Supervision (PSzÁF) approved a transaction whereby Kafijat Kft increased its stake in General Banking and Trust Rt (ÁÉB) by 25.5%. By acquiring the stake from Russia?s Gazprombank, the company secured a position as majority owner holding 74.5% of ÁÉB stocks. Kafijat is owned by the family of ÁÉB President and CEO Megdet Rahimkulov, who now also controls the bank itself through Kafijat.