{"id":170520,"date":"2026-08-18T08:34:04","date_gmt":"2026-08-18T08:34:04","guid":{"rendered":"https:\/\/friss-hirek.hu\/index.php\/elado-lehet-az-mnb-botrany-egyik-legfurcsabb-oroksege-csak-eppen-senki-nem-tudja-mennyit-er-valojaban\/friss-hirek\/"},"modified":"2026-08-18T08:34:04","modified_gmt":"2026-08-18T08:34:04","slug":"elado-lehet-az-mnb-botrany-egyik-legfurcsabb-oroksege-csak-eppen-senki-nem-tudja-mennyit-er-valojaban","status":"publish","type":"post","link":"https:\/\/friss-hirek.hu\/index.php\/elado-lehet-az-mnb-botrany-egyik-legfurcsabb-oroksege-csak-eppen-senki-nem-tudja-mennyit-er-valojaban\/uzlet\/","title":{"rendered":"Elad\u00f3 lehet az MNB-botr\u00e1ny egyik legfurcs\u00e1bb \u00f6r\u00f6ks\u00e9ge \u2013 csak \u00e9ppen senki nem tudja, mennyit \u00e9r val\u00f3j\u00e1ban"},"content":{"rendered":"<p><strong>A GTC elad\u00e1sa egyszerre lenne menek\u00fcl\u00e9si \u00fatvonal \u00e9s kellemetlen szemben\u00e9z\u00e9s a kor\u00e1bbi vesztes\u00e9gekkel.<\/strong><\/p><div id=\"friss-1385640880\" class=\"friss-etarget friss-entity-placement\"><script type=\"text\/javascript\" id=\"etargetScript7a9b589f63cb072bef80df221f46a22b\">function etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b(){var e=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",t=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",o=document.getElementById(e);if(o){for(var n=o.offsetTop,d=o.offsetLeft,r=o.offsetWidth,a=o.offsetHeight;o.offsetParent;)o=o.offsetParent,n+=o.offsetTop,d+=o.offsetLeft;var i=(n<=window.pageYOffset+window.innerHeight&&d<window.pageXOffset+window.innerWidth&&n+a>window.pageYOffset&&d+r>window.pageXOffset);if(i&&etargetAllowOtherCheck){allowed=!1;var c=document.createElement(\"script\");return c.src=\"\/\/hu.search.etargetnet.com\/generic\/uni.php?g=ref:58661,area:700x210\",void(document.getElementById(t)&&document.getElementById(e)&&(document.getElementById(t).parentNode.appendChild(c),document.getElementById(t).parentNode.removeChild(document.getElementById(t)),document.getElementById(e).parentNode.removeChild(document.getElementById(e)),document.removeEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.removeEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b)))}}}var etargetDivID=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",etargetScriptID=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",etargetPostloadPoint=document.createElement(\"div\");etargetPostloadPoint.id=etargetDivID;var etargetCurScript=document.getElementById(etargetScriptID);etargetCurScript.parentNode.appendChild(etargetPostloadPoint),document.addEventListener(\"scroll\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.addEventListener(\"resize\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b),document.addEventListener(\"DOMContentLoaded\",etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b);var etargetAllowOtherCheck=!0;if(typeof(\"forceRunPostload\")==\"string\"){etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b()}<\/script><\/div>\n<p><strong>Mi t\u00f6rt\u00e9nt? <\/strong>Az Optima azt vizsg\u00e1lja, hogy eladja-e a lengyel Globe Trade Centerben megl\u00e9v\u0151 62,61 sz\u00e1zal\u00e9kos r\u00e9szesed\u00e9s\u00e9t, vagy m\u00e1s konstrukci\u00f3val, p\u00e9ld\u00e1ul t\u0151keemel\u00e9ssel rendezi a befektet\u00e9s sors\u00e1t. A GTC r\u00e9szv\u00e9nye jelenleg k\u00f6r\u00fclbel\u00fcl 2,4 z\u0142oty, mik\u00f6zben az MNB kor\u00e1bban mintegy 9 z\u0142oty k\u00f6r\u00fcli \u00e1rfolyamon v\u00e1s\u00e1rolt, \u00edgy a pakett jelenlegi t\u0151zsdei \u00e9rt\u00e9ke nagyj\u00e1b\u00f3l 73,6 milli\u00e1rd forint, <a href=\"https:\/\/telex.hu\/gazdasag\/2026\/08\/18\/padme-optima-mnb-matolcsy-varga-mihaly-gtc-mnb-alapitvanyok\">\u00edrja a Telex<\/a>. <\/p>\n<div class=\"related-post-links\">\n<p>\t\t<span class=\"related-post-links__title minititle\">T\u00f6bb ebb\u0151l<\/span><\/p>\n<div class=\"related-post-links__link-wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.forbes.hu\/uzlet\/matolcsy-adam-vagyonatmentes-szaraz-istvan\/\" class=\"related-post-links__link\">V\u00e1lasz Online: vagyon\u00e1tment\u00e9sbe kezdett Matolcsy \u00c1d\u00e1m<\/a>\n\t\t\t<\/div>\n<div class=\"related-post-links__link-wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.forbes.hu\/uzlet\/360-milliard-forintos-adossagcsapdaban-az-mnb-alapitvany-cege\/\" class=\"related-post-links__link\">360 milli\u00e1rd forintos ad\u00f3ss\u00e1gcsapd\u00e1ban az MNB-alap\u00edtv\u00e1ny c\u00e9ge<\/a>\n\t\t\t<\/div>\n<div class=\"related-post-links__link-wrapper\">\n\t\t\t\t<a href=\"https:\/\/www.forbes.hu\/penz\/ujabb-60-milliard-kozpenzt-azonositottak-ami-a-matolcsy-korhoz-kerult\/\" class=\"related-post-links__link\">\u00dajabb 60 milli\u00e1rd k\u00f6zp\u00e9nzt azonos\u00edtottak, ami a Matolcsy-k\u00f6rh\u00f6z ker\u00fclt<\/a>\n\t\t\t<\/div>\n<\/div>\n<p><strong>Mi volt a szerepet a GTC-nek az MNB-botr\u00e1nyban?<\/strong> Az MNB 2020-ban az alap\u00edtv\u00e1nyi vagyon kezel\u00e9s\u00e9re l\u00e9trehozott Optima r\u00e9v\u00e9n 61,5 sz\u00e1zal\u00e9kos r\u00e9szesed\u00e9st v\u00e1s\u00e1rolt a lengyel Globe Trade Centerben (GTC), r\u00e9szv\u00e9nyenk\u00e9nt mintegy 9 z\u0142oty\u00e9rt, j\u00f3val a t\u0151zsdei \u00e1r felett. A r\u00e9szesed\u00e9st k\u00e9s\u0151bb 62,61 sz\u00e1zal\u00e9kra n\u00f6velt\u00e9k. A probl\u00e9ma az volt, hogy az Optima az alap\u00edtv\u00e1nyi vagyonon t\u00fal hiteleket is felvett a k\u00fclf\u00f6ldi ingatlanbefektet\u00e9sek finansz\u00edroz\u00e1s\u00e1ra, \u00edgy a kock\u00e1zat jelent\u0151sen megn\u0151tt. Az \u00c1SZ szerint ez ellent\u00e9tes volt az alap\u00edtv\u00e1ny eredetileg r\u00f6gz\u00edtett konzervat\u00edv befektet\u00e9si politik\u00e1j\u00e1val. A GTC k\u00e9s\u0151bb t\u00f6bb vitatott \u00e9s rosszul teljes\u00edt\u0151 befektet\u00e9st is v\u00e9grehajtott, k\u00f6zt\u00fck a n\u00e9met, mintegy 5200 lak\u00e1sb\u00f3l \u00e1ll\u00f3 portf\u00f3li\u00f3t, mik\u00f6zben a t\u00e1rsas\u00e1g elad\u00f3sodotts\u00e1ga magas maradt. A r\u00e9szv\u00e9ny \u00e1rfolyama az\u00f3ta \u00f6sszeomlott: a 9 z\u0142oty k\u00f6r\u00fcli v\u00e9tel\u00e1rhoz k\u00e9pest 2026 augusztus\u00e1ra 2,4 z\u0142otyra esett. A GTC lett az MNB-alap\u00edtv\u00e1nyi vagyon egyik szimbolikus \u00fcgye: t\u00f6bb sz\u00e1z milli\u00e1rd forintos k\u00f6zvagyont vittek egy k\u00fclf\u00f6ldi ingatlanbefektet\u00e9sbe, hitellel is megtoldva, mik\u00f6zben az eszk\u00f6z \u00e9rt\u00e9ke jelent\u0151sen leolvadt.<\/p>\n<p><strong>Mi a helyzet a GTC-n\u00e9l?<\/strong> A k\u00f6zvetlen cs\u0151dvesz\u00e9lyt siker\u00fclt elh\u00e1r\u00edtani, a c\u00e9g refinansz\u00edrozta hiteleit, \u00e9s a Fitch Ratings is jav\u00edtott a meg\u00edt\u00e9l\u00e9s\u00e9n. A GTC azonban tov\u00e1bbra is s\u00falyosan elad\u00f3sodott, r\u00e1ad\u00e1sul a hitelszerz\u0151d\u00e9sek korl\u00e1tozz\u00e1k, milyen ingatlanokat adhat el. K\u00fcl\u00f6n\u00f6sen probl\u00e9m\u00e1s a kor\u00e1bban 455 milli\u00f3 eur\u00f3\u00e9rt megv\u00e1s\u00e1rolt n\u00e9met lak\u00e1sportf\u00f3li\u00f3, amely a v\u00e1rtn\u00e1l j\u00f3val gyeng\u00e9bben teljes\u00edtett.<\/p>\n<p><strong>Eladni vagy menteni?<\/strong> Az Optima sz\u00e1m\u00e1ra az esetleges elad\u00e1s komoly dilemma. A jelenlegi \u00e1rfolyamhoz k\u00e9pest ugyan el\u00e9rhet\u0151 lehet n\u00e9mi pr\u00e9mium, de az MNB kor\u00e1bbi v\u00e9tel\u00e1r\u00e1t\u00f3l \u00edgy is messze maradna. A tranzakci\u00f3 ugyanakkor lehet\u0151s\u00e9get adhatna arra, hogy az alap\u00edtv\u00e1nyi vagyonkezel\u0151 megszabaduljon egyik legnehezebb \u00f6r\u00f6ks\u00e9g\u00e9t\u0151l. Egy elad\u00e1s viszont egyben azt is l\u00e1tv\u00e1nyosan megmutatn\u00e1, mekkora vesztes\u00e9get szenvedett el az MNB ezen a befektet\u00e9sen.<\/p>\n<p><!-- No email blocks found --><\/p>\n<p>The post <a href=\"https:\/\/www.forbes.hu\/penz\/elado-lehet-az-mnb-botrany-egyik-legfurcsabb-oroksege-csak-eppen-senki-nem-tudja-mennyit-er-valojaban\/\">Elad\u00f3 lehet az MNB-botr\u00e1ny egyik legfurcs\u00e1bb \u00f6r\u00f6ks\u00e9ge \u2013 csak \u00e9ppen senki nem tudja, mennyit \u00e9r val\u00f3j\u00e1ban<\/a> appeared first on <a href=\"https:\/\/www.forbes.hu\/\">Forbes.hu<\/a>.<\/p><div id=\"friss-1316330528\" class=\"friss-etarget-cikk-vege friss-entity-placement\"><script type=\"text\/javascript\" id=\"etargetScript7a9b589f63cb072bef80df221f46a22b\">function etargetPostloadFunction7a9b589f63cb072bef80df221f46a22b(){var e=\"etargetPostload7a9b589f63cb072bef80df221f46a22b\",t=\"etargetScript7a9b589f63cb072bef80df221f46a22b\",o=document.getElementById(e);if(o){for(var 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id=\"friss-1880234125\" class=\"friss-after-content_3 friss-entity-placement\">https:\/\/www.youtube.com\/watch?v=Pdnw4KiUWp0<\/div>","protected":false},"excerpt":{"rendered":"<p>A GTC elad\u00e1sa egyszerre lenne menek\u00fcl\u00e9si \u00fatvonal \u00e9s kellemetlen szemben\u00e9z\u00e9s a kor\u00e1bbi vesztes\u00e9gekkel. Mi t\u00f6rt\u00e9nt? Az Optima azt vizsg\u00e1lja, hogy eladja-e a lengyel Globe Trade Centerben megl\u00e9v\u0151 62,61 sz\u00e1zal\u00e9kos r\u00e9szesed\u00e9s\u00e9t, vagy m\u00e1s konstrukci\u00f3val, p\u00e9ld\u00e1ul t\u0151keemel\u00e9ssel rendezi a befektet\u00e9s sors\u00e1t. A GTC r\u00e9szv\u00e9nye jelenleg k\u00f6r\u00fclbel\u00fcl 2,4 z\u0142oty, mik\u00f6zben az MNB kor\u00e1bban mintegy 9 z\u0142oty k\u00f6r\u00fcli \u00e1rfolyamon [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-170520","post","type-post","status-publish","format-standard","hentry","category-uzlet"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts\/170520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/comments?post=170520"}],"version-history":[{"count":0,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/posts\/170520\/revisions"}],"wp:attachment":[{"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/media?parent=170520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/categories?post=170520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/friss-hirek.hu\/index.php\/wp-json\/wp\/v2\/tags?post=170520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}