BUDAPEST (Reuters) – The Hungarian state should sell its 20% stake in MBH Bank, the country’s second-largest lender, in a potential upcoming share offering, the economy minister Marton Nagy said on Monday.
Bloomberg reported last week that MBH was working on a potential share offering, and that the government was mulling selling its stake in the bank.
During a press conference in Budapest, Nagy confirmed that MBH was interested in going public.
“This provides an opportunity for the state to sell its stake … My personal opinion is that it would be advisable for the state to sell its stake in MBH,” he said.
The state currently owns its MBH shares through state-owned Corvinus BHG Asset Management. It reduced its stake in the bank from 30% last year.
MBH told Reuters that it would not comment on a possible share offering or Nagy’s comments.
MBH was created by the 2020 merger of three banks – state-owned Budapest Bank, MKB Bank and savings group.
Hungary’s market leader is OTP Bank.
(Reporting by Anita Komuves; Editing by Joe Bavier)
