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Banco Popolare Sc Finalizes Disposal of Banco Popolare Hungary to Magnet Hungarian Community Bank

Wednesday, 5 Jun 2013 11:41am EDT 

Banco Popolare Sc announced that, following the authorization received by the competent supervisory authorities, it has finalized the agreement on the basis of which its Hungarian subsidiary Banco Popolare Hungary was sold to Magnet Hungarian Community Bank. The consideration, equal to EUR 0.5 million, will be made on a cash basis. Banco Popolare Hungary has an operating structure of 10 branch outlets and approximately 145 employees. The transaction allows the Group to move ahead with its focus on the core Italian banking business. 

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