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MKB Bank to be floated on German stock exchange

MKB Bank's parent bank, Bayerische Landesbank (BLB), still plans to float MKB shares on Germany's stock exchange in the mid-term, the business daily Világgazdaság said on Friday.

The paper said the parent bank's aim is that MKB become ready to float its shares on the German bourse by 2013 at the latest.

However, the German bank's CEO Gerd Hausler said at a press conference that Bayerische Landesbank is still in consultation with the European Commission on the future of MKB Bank.

The paper notes that BLB, which received €10 billion in fresh capital from the Bavarian government, must refocus its structure by 2013, including carrying out major layoffs. The European Commission wants to prevent banks that have been given government help because of the crisis from obtaining a competitive advantage against those that have weathered the crisis without any assistance.

MKB Bank took second place in Hungary's banking sector in terms of consolidated total assets in 2009. (MTI-ECONEWS)