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BLB drafts plans to sell off MKB

Bayerische Landesbank (BLB) has presented to the European Commission a plan that would involve reorganizing the structure of the comapny, severing several divisions in the process, German paper Süddeutsche Zeitung reported.

The changes would also involve two subsidiaries active in Hungary, MKB Bank and Hypo Group Alpe Adria which has a leasing business in the country. BLB did not comment the reports apart from the fact that it has commissioned international executive consultancy Oliver Wyman to prepare the changes. At the same time the advisors cautioned against rushing the sales given the current economic conditions, thus MKB could have a new owner in 2013 or 2014. (Napi Gazdaság)