By Cecilia Butini

Erste Group Bank AG said Wednesday that it is acquiring Hungarian brokerage Random Capital Zrt through its local investment subsidiary Erste Befektetesi Zrt.

The Austrian bank said the acquisition was approved by the National Bank of Hungary and is set to close over the coming weeks.

Through the acquisition, Erste Bank will also acquire Random Capital's nearly 22,000 securities accounts and 70 billion Hungarian forints ($236.8 million) in savings.

Financial details of the acquisition weren't disclosed.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

September 01, 2021 05:53 ET (09:53 GMT)

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