BDPST acquires 57% stake in Gránit Bank

Banking

Hungarian-owned BDPST Zrt. last week said it signed a contract to acquire a 57% stake in Gránit Bank, according to profitline.hu. The lender will continue to be run by its minority owner, chairman-CEO Éva Hegedűs, BDPST said. 

BDPST Group owner István Tiborcz (the son-in-law of Prime Minister Viktor Orbán) said BDPST Group will provide the bank with the capital necessary for "further dynamic growth." The transaction also serves to diversify BDPST Group's activities, he added. 

"We believe in the business opportunities presented by the transforming financial sector in Hungary, and globally, too, which is why we looked for the kind of investment where there was already a digital approach which is the key to future success," Tiborcz said. 

BDPST Group specializes in buying dilapidated landmark buildings, renovating and repurposing them. Gránit Bank was established in 2010 by the late construc tion industry magnate Sándor Demján to help local SMEs recover from the global financial and economic crisis. 

Its balance sheet is now close to HUF 700 billion, and it boasts more than 80,000 clients. The lender's NPL ratio is just 0.03%. An application for clearance for the acquisition has been submitted to the National Bank of Hungary.

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