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MFB streamlining to save HUF 2 bln annually

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State-owned Hungarian Development Bank (MFB) said today that it is expecting to see annual savings of approximately HUF 2 bln through the streamlining of its operations, Hungarian news agency MTI reported.

This year MFB will undergo restructuring as part of its new strategy, which is set to make the bank a nationwide financial service provider. MFB said that it anticipates redundancies, however, not on the scale of “mass layoffs”.

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