Magyar Fejlesztési Bank increases capital amid Opus Titász legal dispute

The Hungarian Development Bank (MFB) has undergone a significant capital increase, raising its core capital to 750 billion forints through a 230.1 billion forint contribution. This move follows approval from the European Commission for a 2-billion-euro capital injection utilizing funds from the EU's Recovery and Resilience Facility (RRF). The capital increase was mandated to be completed by August 31 to facilitate the receipt of EU funds.

Simultaneously, Opus Titász Áramhálózati Zrt. is contesting a decision by the MFB to exclude the company from network development and smart metering tenders funded by the RRF. The MFB cited a failure to meet transparency requirements as the reason for the exclusion. Opus Titász has rejected this decision, stating it is professionally and legally unfounded, particularly as the company had received a positive evaluation for its application on August 6 before the decision was reversed on August 10. The company has announced it will pursue all available legal remedies.