Bloomberg reported that Hungary will buy GE Capital’s Budapest Bank, the country’s eighth-largest bank in terms of assets.
Bloomberg said a unit of state-owned development bank MFB will be the buyer, with MFB providing a loan for the transaction.
Bloomberg noted the deal with Hungary is the latest foreign bank divestiture for GE Capital, which agreed in June to sell its Nordic business to Spain’s Banco Santander SA. GE notified Polish financial regulators in October that it plans to sell its banking unit in that country, Bank BPH SA, Bloomberg said.
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