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KBC Group buys 99.7% of K&H Bank

The State Financial Supervisory Authority (PSzÁF) has approved Belgian KBC Group's plan to acquire a 99.7% stake of K&H Bank Rt.

KBC previously owned a smaller portion of the bank, but has now purchased the stake held by Dutch ABN Amro Bank. KBC also became 49.8% owner of K&H Insurance Rt through its stake in K&H Bank.