Good deal made with MBH Bank?

As the Group announced after the close of trading on Wednesday evening via the official platform of the Budapest Stock Exchange (BÉT), the state-owned asset management company Corvinus Zrt. sold 26.6 million MBH shares. At the same time, a subsidiary of the empire of Orbán’s friend Lőrinc Mészáros also sold 3.1 million shares, which corresponds to approximately 1% of the company’s shares. Zenith Zrt. now holds 24.8% of the shares in the second-largest domestic banking group after market leader OTP.

MBH Bank acquired 22.6 million of the shares ‘thrown onto the market’, meaning that it now owns 7% of the shares. Based on the current capitalisation of the group, the state could have realised more than 200 billion forints with the transaction, according to the business portal portfolio.hu. This would almost correspond to the value of Budapest Bank (225 billion forints), which the state once contributed to the merger to form the MBH banking group.