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Volksbank raises capital

Magyarországi Volksbank Rt, the Hungarian unit of Volksbank International AG, has received a Ft 920 million capital raise, boosting its registered capital to Ft 5.79 billion and its equity capital to Ft 14.5 billion, the bank announced on Thursday.

The board also approved a name change, to Magyarországi Volksbank Zrt, the announcement added.
Volksbank said it plans to use the fresh capital to increase its share in the SME segment.