MKB to buy Romania's Romexterra

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MKB Bank Rt, the Hungarian unit of Germany's Bayerische Landesbank, plans to buy Romania's Romexterra Bank SA for € 100 million, newspaper Ziarul Financiar reported. The Hungarian bank plans to sign a contract to purchase the bank in the next few days in Budapest, the newspaper said, citing unnamed people with knowledge of the talks. Romexterra, which has 0.8% of Romania's banking market, reported profit more than doubled last year to about € 6.2 million, the newspaper said. (Bloomberg)

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