BUDAPEST Jan 27 The board of directors at
Hungary's loss-making MKB Bank has approved an 80.2
billion forint ($359 million) capital increase through the
issuance of new shares in a private placement, MKB said on
The decision would increase MKB's registered capital to
225.5 billion forints, MKB said in a filing with the Budapest
Stock Exchange. It said German owner BayernLB had
already paid 79.1 billion forints for the shares on Friday.
BayernLB will pay the rest by Feb. 7 if minority
shareholders do not exercise their pre-emption rights. Before
the capital increase, BayernLB held a 98.6 percent stake in MKB,
one of the biggest banks in Hungary.
MKB Bank posted a loss of 32 billion forints in the first
half of 2013, according to figures published on its website.
($1 = 223.56 Hungarian forints)
(Reporting by Gergely Szakacs; editing by Tom Pfeiffer)