Hungarian-owned Szechenyi Commercial Bank (SZKB) has made an offer to buy the Hungarian business of Austria’s Raiffeisen Bank. Last year, the state of Hungary acquired a 49pc stake in SZKB. The bank’s majority owner is T&T Ingatlanforalmazo es Vagyonkezelo, a company tied to Government Debt Management Agency (AKK) head Istvan Torocskei (on the photo). Mr Torocskei would neither confirm nor deny the report. He said it was not common practice to comment on matters in progress, before an agreement is signed. National Bank of Hungary governor Gyorgy Matolcsy recently said four of Hungary’s eight biggest banks could pull out of the country in the next year and a half.