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MKB Bank CEO to step down

Long-time MKB Bank CEO Tamás Erdei is leaving his post, the bank said on Wednesday.

Erdei will be succeeded by Pál Simák, who has been MKB's deputy-CEO and a member of the bank's board since 2008, from March 8 under a decision by the supervisory board, MKB said.

Stephan Winkelmeier, MKB supervisory board chairman and CFO of majority owner BayernLB, reaffirmed the parent company's commitment to maintaining MKB's position as an important player on Hungary's financial market and assured all necessary support.

MKB said BayernLB will show its "maximum" commitment to the bank with the successful closing on February 17 of a capital raise at its Hungarian unit.