BUDAPEST: Hungary’s Takarébank and FHB Mortgage banks purchased 40% of JNT Security stakes, which used to be exclusively owned by state-owned postal company Magyar Posta.
JNT Security, an armored truck and cash logistics company, is expected to take over a “significant part” of the valuables delivery tasks of Hungaryʼs integrated savings cooperatives, the statement said.
Magyar Posta bought a 49% stake in FHB’s commercial banking unit FHB Kereskedelmi Bank for HUF 28.5 bln in September 2014. In August, the state completed the sale of its majority shares in Takarékbank, an umbrella bank for Hungary’s savings cooperatives, to Magyar Takarék with national postal company Magyar Posta’s transfer of its TakarékBank shares.
