NBH to buy 78 pc stake in interbank clearing-house GIRO
(MTI) – The National Bank of Hungary (NBH) will purchase a 78.12 percent stake in interbank clearing-house GIRO Zrt for 9.5 billion forints (EUR 31m) within the next two months, the NBH announced today.
With the transaction, NBH’s earlier 8.09 percent stake will rise to 86.21 percent. The NBH said it aims to eventually acquire 100 percent of GIRO.
GIRO conducts 300 million interbank transactions per year. The company posted pre-tax profit of 1.7 billion forints on revenue of nearly 6 billion in 2013.