Banco Popolare and Magnet Hungarian Community Bank have reached an agreement for the transfer of the entire share capital of Banco Popolare Hungary, the Hungarian subsidiary of the Italian group, to Magnet, for a consideration of 0,5 million euro. To complete the operation, you just have to wait for the authorizations from the supervisory authorities.
The signing of this agreement is consistent with the guidelines of both companies: in this way Banco Popolare will be able to increasingly focus its attention on the banking core business in Italy, while Magnet Bank strengthens its market positioning in the Hungarian banking sector.
