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Volksbank to take over ten ÁÉB branches

Hungarian Volksbank Rt has agreed to take over ten branches of Hungary's General Banking and Trust Bank (ÁÉB) Rt, the two banks said yesterday. Volksbank will take over the accounts, clients and operations of the ten branches. Megdet Rahimkulov, ÁÉB's president, also said that the board of Russia's Gazprom had agreed to sell a 25.52% stake in AEB, held by Gazprombank, to Kafijat, a company owned by Rahimkulov and his family. With the transaction, Kafijat has become ÁÉB's sole owner. The sale must still be approved by financial market regulator PSzÁF. (Econews; NG 4, MH 9, Nb 13)