Gránit Bank to Acquire Controlling Stake in Diófa

Banking

Gránit Bank on Friday said it will acquire a majority stake in fund manager Diófa, which has a portfolio of close to HUF 460 billion, according to a report by state news wire MTI.

The acquisition fits well with Gránit Bank's long-term strategy to expand its private banking and investment services, the lender said, noting that it recently acquired a controlling stake in brokerage Equilor.

With Gránit Bank's backing, Diófa "could grow dynamically", while expanding its digital services, it added.

Diófa's portfolio includes almost HUF 300 bln in real estate funds. It manages Hungary's third-biggest retail property fund: Magyar Posta Takarék Property Investment Fund.

Gránit Bank has a balance sheet of over HUF 1 trillion.

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