NBH launches sale of MKB Bank

Budapest, October 2 (MTI) – The National Bank of Hungary (NBH) on Friday announced the launch of the sale of MKB Bank, which the state acquired from BayernLB last year.

Potential institutional and private investors may participate in the tender for the bank by invitation, the NBH said, adding that it aims to “complete the process” of the sale by the end of 2015.

The NBH acknowledged the sale is “a transparent procedure supervised by the European Union, which must be carried out in compliance with the applicable market standards”.

When the sale is completed, MKB will continue its operations as a “stable, competitive, profitable bank”, the NBH said.

After the sale, MKB Bank’s ownership structure “should be in line with the NBH’s strategy concerning the domestic banking sector, which is designed to contribute to the stability of the financial intermediary system, enhance competition among credit institutions and support prudent and sound banking management over the long term,” it added.

Photo: ittlakunk.hu

Source: http://mtva.hu/hu/hungary-matters