MKB board takes over management of lending institution

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The board of state-owned MKB Bank reassumed management of the lender yesterday, after a bailout commissioner was recalled, Hungarian news agency MTI reported.

Also yesterday, former National Bank of Hungary deputy governor Ádám Balog took over as the bankʼs chief executive and chairman of the board. The National Bank of Hungary will continue to exercise the stateʼs ownership rights in the bank. The government acquired the bank from BayernLB last year.

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