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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.