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Allianz raises stake to 8% in FHB

Allianz AG, Europe's largest insurer, increased its stake in Land Credit and Mortgage Bank Nyrt (FHB), Hungary's second-largest mortgage lender, to 8%.
Allianz raised the holding through its local unit on July 3, FHB said in a stock exchange statement late yesterday. The bank didn't say what Allianz's stake in FHB was before the transaction.
Shares in the mortgage bank dropped 0.5% to Ft 1,239 yesterday, valuing the lender at Ft 91.7 billion. (Bloomberg)