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MKB increases stake in Romexterra Bank

Hungarian commercial bank, MKB Bank Nyrt increased its majority stake from 55.37% to 75.95% in Romanian Romexterra Bank on May 18, MKB announced.

MKB purchased the 20.58% additional stake from individual shareholders of Romexterra. The Romanian bank’s name has also changed from Romexterra Bank S.A. to MKB Romexterra Bank S.A. following the acquisition. MKB bought its first Romexterra package in October last year paying €45 million ($60.4 million). Romexterra has a market share of 0.8% and has 62 branches in Romania. Besides Romania MKB purchased bank shares in Bulgaria recently too. (Gazdasági Rádió)