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Hungary's MKB Bank raises capital in Romanian unit

Hungary's MKB Bank has raised its direct stake in MKB Romexterra Bank, its Romanian unit from 82.47% to 87.77%, MKB announced on the website of the Budapest Stock Exchange on Tuesday.

MKB raised its holding through a capital raise.

MKB Romexterra had registered capital of HUF 17.95 billion at the end of 2008, MKB Bank's 2008 annual report shows. MKB's Romanian group had IFRS after-tax loss of HUF 4.1 billion in 2008. Consolidated total assets stood at HUF 225.3 billion at the end of 2008.

MKB purchased a 55.4% stake in Romexterra Bank in October 2006. Romexterra controlled at the time 0.8% of the Romanian market.

MKB is a subsidiary of BayernLB of Germany. (MTI-Econews)