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Hungarian state interested in buying MKB Bank from BayernLB

Germany's Bayerische Landesbank (BayernLB) wants to sell its Hungarian unit, MKB Bank, and the Hungarian state is an interested buyer, business weekly Figyelő reported.

BayernLB is asking €1 billion for MKB Bank, but the government has offered just €300 million, Figyelő said.

BayernLB has to part with its Hungarian unit within a few years as a condition of a bailout by the Austrian state, the weekly said.

BayernLB CEO Gerd Hausler met with Prime Minister Viktor Orbán and National Economy Minister György Matolcsy in Budapest in May, and another meeting is expected during a visit by Hausler to the capital on July 14-15 for MKB Bank's supervisory board meeting, Figyelő said.

MKB Bank's pre-tax profit fell 27.6% to HUF 6.0 billion in 2009, dropping mainly because of losses at its Romanian unit. Total assets grew 8% to HUF 3,407 billion in the twelve months to the end of December. (MTI – Econews)