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Lázár to oversee MKB Bank

History

The Prime Minister's Office will exercise the state's ownership rights in MKB Bank until the end of 2018, according to a decree by the National Development Minister published in the latest issue of the official gazette Magyar Közlöny.

The state closed the acquisition of MKB Bank from German owner BayernLB at the end of September.

The state reached an agreement on the purchase in July. The government said at the time that it agreed to buy MKB for €55 mln after the seller makes a €270 mln capital raise in the bank.

With the purchase, the government said it aimed to strengthen lending activity and contribute to a more competitive banking system.

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