Owners inject Ft 21 billion into MKB

The owners of MKB Bank Rt have completed a Ft 21 billion capital injection at the bank, according to an announcement in capital markets gazette Magyar Tőkepiac.

The raise is the third at the bank this year, which have added a combined Ft 49.647 billion to net assets.
MKB’s main owner, BayernLB, said earlier it would use the bank as a bridgehead for its expansion in the region.
MKB has already closed the purchase of a 60% stake in Bulgaria’s Unionbank for an undisclosed price on May 3. The bank controls 1.5% of the local market. MKB also singed a letter of intent on July 6 to buy a majority stake in Romexterra Bank in Romania. The bank has a 0.9% share of the market.
Before the capital raise, BayernLB held 89.61% of MKB and BAWAG held 10.38% through its unit P.S.K. Beteiligungsverwaltung. All remaining shareholders hold less than 0.01% each.

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