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Russia-Based Bank’s Board Decides to Relocate Headquarters to Budapest


The board of governors of the International Investment Bank (IIB) has decided to relocate the lender’s headquarters to Budapest, Finance Minister Mihaly Varga said in a statement on Wednesday.

The headquarters is expected to open in the second half of 2019, but the full relocation from Moscow will take 2-3 years, he added.

Hungary has only recently regained its full membership in the Russia-based bank.

via MTI
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