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BSE reelects chairman at annual meeting

Members at the annual general meeting of the Budapest Stock Exchange (BSE) voted to reelect National Bank of Hungary (MNB) deputy governor Mihály Patai as chairman of the exchange, according to an announcement on the website of the BSE.

Mihály Patai

Patai was elected to the post in May 2019, a month after becoming MNB deputy governor.

The meeting made no changes to the BSE board or its supervisory board.

Members also decided that, similar to previous years, the BSE will pay no dividend on last year and will use its HUF 1.5 billion after-tax profit (a rise of almost five times from 2018) for market development activities.

The BSE had HUF 2.65 bln revenue last year, up 4.6%.

The MNB held a 81.35% stake in the BSE on September 14.