June 14th, 2017

Orbán confidante Mészáros now owns 49% of MKB, Hungary’s 4th biggest bank

Lőrinc Mészáros, the mayor of Felcsút, the prime minister’s hometown and the fifth richest man in Hungary bought 49% of MKB Bank’s shares through his fund management firm. In related news, the Budapest Stock Exchange suspects that insider trade took place right before the purchase with the stocks of Mészáros’s firm, reports 444.hu.

Mészáros’s firm, the Konzum Investment Fund Manager, took over the METIS Private Capital Fund that owned 49% of MKB Bank from its previous owner, the Minerva Capital Fund Manager. According to press reports, the biggest investor of METIS is László Szijj, Mészáros’s business partner and a major building industry oligarch himself, as the owner of Duna Asphalt.

MKB is Hungary’s fourth biggest bank, which became quasi state-owned once again, as Tamás Szemery, National Bank governor György Matolcsy’s cousin and Ádám Balogh, one of Matolcsy’s deputies, bought a 30% share in it in April.

Meanwhile, the Budapest Stock Exchange’s advocacy organization suspects that insider trade took place with the stocks of the Konzum Investment Fund Manager right before Mészáros’s firm bought the share in the bank. Indeed, 1.2 million Konzum shares were sold on May 30 and 31 when there was still no public news of the purchase of MKB. The Stock Exchange’s advocacy group submitted a complaint to the National Bank upon suspicion of insider trade. At the same time, Konzum claimed that their “right to good reputation” was harmed by the complaint.

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  • wolfi

    It’s only corruption when I’m not involved in it – who said that?

  • Polle

    I am glad I took my money out of MKB and moved to an independent bank when MKB was taken over by the “Family”

  • wolfi

    Now could any of our Fidesz freaks here explain how as a plumber you make that much money in such a short time?

    • ViktorZorroban

      Meszaros was N°2 (after our Glorious Leader, of course) to believe in Matolcsy’s Fairytale. Ever since that moment, money started to flow into their Felcsut pockets. And what’s even more amazing: God himself made their pockets as deep as a Swiss valley.

    • National Hiphop

      Legendarily unbiased and independent journalist András Bencsik said Mészáros “is a really very talented guy indeed” to his unbiased and independent colleagues (such as Zsolt “Muthafuckin” Bayer) on unbiased and independent Echo TV, so I think we should accept this as a fact.

    • Polle

      A plumber know all about right connections.

      • You got any references to such a plumber?
        Mine seems to always make some mistake…

  • the Budapest Stock Exchange suspects that insider trade took place right before the purchase with the stocks of Mészáros’s firm

    Famous last words as independent body…

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