For a time, Budapest Bank, MKB, and the Takarék Group’s core company, MTB, still operated under a separate brand name, but are now part of a single company.

Magyar Bankholding Zrt. It started its actual operation after the controlling owners of Budapest Bank Zrt., MKB Bank Nyrt. And the central bank of the Takarék Group, MTB Zrt., Contributed their banking actions to Magyar Bankholding, the company announced.

This created the second largest banking group in Hungary, according to the announcement. The Hungarian state, through Corvinus Nemzetközi Befektetési Zrt., Owns 30.35 percent, the previous direct owners of MKB have 31.96 percent and the previous direct owners of MTB have 37.69 percent, according to ad.

For the time being, Budapest Bank, MKB and MTB will retain their independent legal status and will operate under a separate brand for some time. As it is written, the financial holding company then performs prudential control and group management functions over the three banking groups, planning and conducting the merger process that optimizes the operation of the banks. A detailed merger schedule and business strategy will be developed in 2021.

The Chairman of the Board of Magyar Bankholding is Zsolt Barna and the CEO is József Vida. In addition to them, the members of the board are Ádám Balog, Koppány Lélfai and Attila Tajthy.



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