Hungary: ÁÉB to transform and merge into Kafijat

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Általános Értékforgalmi Bank (ÁÉB) Zrt was a bank only on paper for some time, having transferred its clients to Volksbank Zrt and closing its last branch in May.

Financial supervisory authority PSZÁF has just given permission for the bank to merge into Kafijat Zrt and continue operation as an investment firm under the name of ÁÉB Investment Zrt (ÁÉB) with a registered capital of Ft 3 billion. On September 27, the bank’s shareholders decided to terminate the company’s investment services. Earlier, on September 14, the management was commissioned to prepare the official documents needed for the transformation. ÁÉB is owned by Russian Businessman Megdet Rahimkulov and his family, the direct owners are Kafijat Kft (74.48%) and Firthlion Ltd (25.52%). (Gazdasági Rádió, Napi Gazdaság)

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