2023-11-13 15:10:54
Erste Bank Hungary Zrt.
Written by Rainer Ackermann
The state sells its stake in Erste Bank Hungary Zrt. to the senior partner, the Austrian Erste Bank AG.
In 2016, the state acquired 15% of the shares in the local Erste Bank subsidiary. According to the Ministry of Economic Affairs, the purchase price was 38.9 billion forints. Since then, the state has received 20 billion forints in dividends and is now realizing 87.5 billion forints (230 million euros) from the sale of the shares. This means that the investment has paid off more than 2.5 times, the economic department emphasizes in a press release. Both sides denied rumors of tensions in the background. The relationships are “extraordinarily successful and stable” and the objectives set out in the strategic agreement have been “completely” met.
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