According to state news wire MTI, Gránit Bank CEO Éva Hegedüs marked the milestone by ringing the bell to launch trading in the bank’s shares, which were listed in the BSE’s standard category.
During the subscription period, which concluded in mid-December, investors placed bids for more than HUF 21 billion worth of shares, well above the original HUF 7 bln minimum target. The price range for bids was set between HUF 13,172 and HUF 15,054.
The bank issued 1,220,820 new ordinary shares with a face value of HUF 1,000, raising fresh funds of HUF 17.7 bln. Retail investors accounted for HUF 11.5 bln, or 64.2% of the total, while institutional investors subscribed to HUF 6.2 bln, or 35.2%.
Strong Performance and Growth Potential
As of November, Granit Bank managed over 222,000 accounts, held deposits exceeding HUF 1.114 trillion, and reported lending stock of HUF 637.5 bln. The bank’s market capitalization stands at HUF 262.3 bln, with shareholders’ equity at HUF 278.7 bln.
Currently, 19.53% of the bank’s shares are traded on the BSE, with a goal to increase that figure to 25% to qualify for the exchange’s premium category.
Ownership and Long-Term Strategy
The bank’s major shareholders include:
- TiberisDigital (István Tiborcz’s company): 39.19% stake.
- Granit Bank’s employee stock ownership program: 34.96% stake.
- Pannónia Pension Fund: 6.31% stake.
- E.P.M. Kft. (Éva Hegedüs’s company): 4.15% stake, part of the free float.
- Other small investors: 15.39% stake, also part of the free float.
Gránit Bank’s long-term strategy aims to grow its net profit from HUF 21.6 bln in 2023 to HUF 122 billion by 2033. The bank also targets a total asset increase from HUF 1.3 tln in 2023 to nearly HUF 6 tln. Lending stock is projected to rise from HUF 528 billion to HUF 3.29 tln, while deposits are expected to expand from HUF 929 billion to HUF 5.162 tln over the same period.
Allocation of Funds
Hegedüs detailed the allocation of the IPO proceeds, noting that 50% will be used to expand retail and business lending, 35% will go toward business development, acquisitions, and international expansion, and the remaining 15% will fund AI-based innovations.
The IPO positions Gránit Bank as a key player in Hungary’s financial sector, with ambitious plans to drive growth both domestically and internationally.
