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Central bank to appeal court decision on MKB sale

Issues

Wikimedia Commons/Globetrotter19

The National Bank of Hungary (MNB) said late yesterday it will appeal a decision by the Municipal Court of Budapest ordering the central bank to release data of public interest regarding the sale of MKB Bank.

The Hungarian central bank sold MKB Bank to a consortium of two private equity funds – Blue Robin Investments and METIS Private Capital Fund – and Hungaryʼs Pannonia Pension Fund for HUF 37 billion in the summer, Hungarian news agency MTI reported. 

After the central bank declined to answer a private individual’s request to publish information related to the ownership of MKBʼs buyers, arguing that the shares of the lender did not qualify as public assets, the Budapest court ruled yesterday that the shares of MKB did, in fact, qualify as public assets.

The court justification of the decision added that the MNB was carrying out a public task when it restructured MKB, MTI reported.

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