The Hungarian government acquires 49 percent ownership of the Granite Bank and the Széchenyi Commercial Bank Ltd., according to the Financial Supervisory Authority's decisions.
Both banks Hungarian-owned. The principal owner of the Granite Bank is the Hungarian Capital Company Ltd, which is linked to Sándor Demján. The sole shareholder of the Széchenyi Bank is T & T Real Estate and Property Management Co., which is linked to István Töröcskei the leader of the Government Debt Management Agency.
The government after one and a half years of preparation acquired the shares by HUF 2.58 billion capital increase. The former owners retain 51 percent stake along with management rights; the bank's business strategy will not change either.
(MTI – hungarianambiance.com)