BUDAPEST BANK ISSUES BONDS TO EXPAND RESOURCES
Budapest Bank Rt has become the first
of the commercial banks operating since January to issue bonds
to expand its resources, the official Hungarian news agency MTI
said.
    The seven-year bonds totalling 500 mln forints may be taken
up by companies, cooperatives and enterprises, MTI said.
    The interest rate will always be 0.5 points above that
charged to commercial banks by the National Bank of Hungary for
loans exceeding one year. This year's rate will thus be 11 pct.
    The funds raised will be used to increase the bank's
investment loan offer for small and medium-sized companies.
 REUTER
