Varga: Gov’t to seal Budapest Bank deal by December
Hungary’s National Economy Minister Mihály Varga said that the Hungarian government is planning to seal a deal to purchase Budapest Bank from GE Capital by December and merge it with MKB – which the government bought in 2014 – as they consider this to be "a highly logical step," Reuters reported today.
Varga noted that the government’s relations with commercial banks were improving. The minister added that a “lot would depend on whether the credit market picked up in 2016,” according to Reuters. Varga reiterated that the Hungarian state is not planning on buying “any more systematically important banks.”
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