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MFB head set to step down

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President-chief executive of state-owned development bank MFB László Baranyay is leaving his post, business daily Világgazdaság reported Thursday. Baranyay has a long history working at MFB, having already served at the top during the first government term of Fidesz. Világgazdaság didn’t provide any reasons behind Baranyay’s alleged departure, but noted that the MFB closed 2011 as well as 2012 with considerable losses. Earlier reports tapped head of the state debt management agency ÁKK István Töröcskei as a likely candidate for Baranyay’s successor.

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