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Magyar Bankholding Zrt. It will start operating soon, as announced by the relevant financial institutions of the bank merger, Takarék Group, MKB Bank Plc. And Budapest Bank Group. The financial institutions signed an investment and union agreement and decided to contribute their bank stake to the joint holding company. With this step, the second largest banking group in Hungary will be established after the licensing procedure, with a consolidated value of more than HUF 740 billion.
Through the new banking group, the Hungarian state, through Corvinus International Investment Ltd., acquires a 30.35 percent stake, MKB owners 31.96 percent and MTB owners 37.69 percent. hundred. According to the announcement
With the start of the joint activities of the three banking groups, which are very complementary in many areas (customer base, portfolio of products and services, operational structure and network), the Hungarian banking sector will be one of the most nationally owned players. strong and more developed in the Hungarian banking sector, creating stability and predictable liquidity. for the Hungarian economy, promoting GDP growth.
Based on the analysis of the international strategic consulting firm involved in the transaction, the transaction could generate tens of billions of guilders a year in synergy, which could significantly strengthen competitiveness, growth prospects, profit-generating capacity. and the stability of the banking group.
The combined balance sheet of MTB, MKB and Budapest Bank is the second largest in Hungary.
The new banking group can also provide a stable fund for future foreign expansions, which will also improve the country’s GNI (gross national income) indicator. During 2021, Magyar Bankholding Zrt. It will develop a detailed merger schedule for the three banks, their milestones and a detailed business strategy. This work is carried out by specialists from the three banks with the help of international consulting companies, and they are selected through internal bidding.
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