Gránit Bank Closes Acquisition of Controlling Stake in Diófa
Gránit Bank on Friday announced the close of its acquisition of a majority stake in fund manager Diofa, which has a portfolio of close to HUF 800 billion, according to a report by state news wire MTI.
The transaction was closed after being cleared by the National Bank of Hungary (MNB).
Gránit Bank announced the deal in January and said the acquisition dovetailed with its long-term strategy to expand its private banking and investment services.
The bank earlier acquired a controlling stake in brokerage Equilor.
Diófa's portfolio includes over HUF 310 bln in retail property funds.
Gránit Bank has a balance sheet of more than HUF 1 trillion.
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