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. Last Updated: 07/27/2016

Russian Banker Is Hungary's Richest

BUDAPEST -- Russian banker Megdet Rahimkulov is the richest person in Hungary, according to a report published Wednesday.

Rahimkulov's fortune was estimated at 83 billion forints ($398 million) in a publication on Hungary's richest people launched by the daily newspaper Nepszabadsag. Rahimkulov, who has close business ties to Russia's state-controlled gas monopoly Gazprom, is the majority owner of General Banking and Trust, or AEB, listed last year as Hungary's 11th-largest commercial bank.

Rahimkulov is in the process of buying Gazprom's remaining 25.5 percent stake in AEB, which was once fully owned by the gas company. His other investments include broadcaster Antenna Hungaria, tile maker Zalakeramia and chemicals maker Borsodchem.

Sandor Csanyi, chairman and CEO of OTP, Hungary's largest bank, was second richest, with 60 billion forints ($288 million). According to Nepszabadsag, there are no Hungarians among the 100 richest people in Eastern Europe.

(AP, Bloomberg)