Central bank turns to Kúria to keep MKB sale info secret

Issues

Wikimedia Commons/Globetrotter19

The National Bank of Hungary (MNB) has appealed to the Hungarian Supreme Court (Kúria) over an appellate court decision requiring it to release information on the sale of MKB Bank, Hungarian news agency MTI reported on Friday.

The National Bank of Hungary (MNB) must release data of public interest regarding the sale of MKB Bank, after the Budapest Municipal Appellate Court decided earlier in March to uphold a first-instance ruling of the Budapest Municipal Court dated October 7.

After the state of Hungary acquired the troubled bank from BayernLB in 2014, MKB Bank was sold to a consortium of two private equity funds, Blue Robin Investments and METIS Private Capital Fund, together with Hungaryʼs Pannónia Pension Fund, for HUF 37 billion in summer 2016.

There have been numerous calls in the Hungarian media for the central bank to reveal information about the buyers, as their background is unclear. Later a private individual filed a request for information on the ownership of MKBʼs buyers, arguing that the lenderʼs shares qualify as public assets and the information should be made public, but the central bank declined to publish the information.

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