ADVERTISEMENT

ELLA shareholders approve capital raise, subordinated loan

Deals

Shareholders of home savings bank ELLA Zrt decided at a general meeting on October 26 to raise capital at the bank to Ft 4 billion, the bank announced on Tuesday.

The owners also decided to issue a €7 million subordinated loan to ELLA. As a result of the capital raise, Luxembourg-based Mortgage Holding will gain another 5% of ELLA, bringing its stake to 95%. The remaining shares of the bank will remain with ELLA Szolgáltató Kft. The capital raise and the loan are intended to support ELLA's business activities.
ELLA has offered retail mortgage loans and related services in Hungary since 1999. The bank has about 62,000 clients and total assets of almost Ft 85 billion. ELLA is indirectly owned by the Royalton Capital Investors investment fund, which concentrates its activities in new EU member states.

 

ADVERTISEMENT

MKIK: Local business tax should be maintained Analysis

MKIK: Local business tax should be maintained

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

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.