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The contribution of the shares of Budapest Bank, MKB Bank and MTB Zrt., Which is managed by the Takarék Group, has been completed, therefore Magyar Bankholding Zrt. It has started its real operation, announced the bank tenure. This created a new large Hungarian-owned bank long-planned under the Orbán governments, which would be a competitor to OTP.
Magyar Bankholding Zrt. It started its actual operation on December 15, after the controlling owners of Budapest Bank Zrt., MKB Bank Nyrt. And MTB Zrt., With the permission of Magyar Nemzeti Bank, will contribute their bank shares to the joint holding company. This created the second largest banking group in Hungary, in which the Hungarian State, through Corvinus Nemzetközi Befektetési Zrt., Has 30.35 per cent, the former direct owners of MKB 31.96 per cent and the owners direct MTB 37.69 percent, according to the announcement. .
After the contribution, the financial holding company will in the future carry out prudential control and group management functions over the three banking groups, as well as planning and managing the merger process that optimizes the banks’ operations. A detailed merger schedule and business strategy will be developed next year.
For the time being, Budapest Bank, MKB and MTB will retain their independent legal status and will operate under a separate brand until the future merger process. Immediately after the contribution, the exploitation of the synergies resulting from the group work begins.
Zsolt Barna is the Chairman of the Board of Magyar Bankholding and József Vida is the CEO. The members of the Board of Directors are also Ádám Balog (former CEO of MKB), Koppány Lélfai (CEO of Budapest Bank) and Attila Tajthy.
The management’s work, with the participation of international consulting firms, has the backing of executives from the three banks, who were selected through internal bidding in early November. András Csapó is responsible for legal and prudential control, Antal Martzy for strategic control and Ádám Egerszegi for the management of the merger office. In addition, twelve leaders make up Magyar Bankholding’s team of start-up experts, covering mergers, strategy, operations, technology, legal, risk management, human resources, accounting, control and communications. For the time being, professionals will carry out their new duties while maintaining their previous banking positions.
In accordance with mandatory legal regulations, a takeover bid will be made in the case of MKB Nyrt. And Takarék Jelzálogbank Nyrt. In January after the contribution – read in the ad.
Zsolt Barna, Chairman of the Board of Directors of Bankholding, has also been the CEO of MKB Bank, which has been of interest to Lőrinc Mészáros since January. According to the bank’s announcement yesterday, Zsolt Barna will have more decisive tasks within the Mészáros Group, which is a key player in Hungarian economic life: Barna The expansion of the Mészáros Group in the international market, they wrote in the statement.
Magyar Bankholding Zrt.
The financial holding company was established by Corvinus Zrt., Budapest Bank Zrt., MKB Bank Nyrt. And MTB Zrt., Which is managed by the Takarék Group, in May 2020 to examine and prepare for the possibility of establishing a nationally owned banking group with significant market power. The new banking group is the second most important player in the market in Hungary: it serves 1.9 million customers, operates almost half of the national branch network, more than 920 branches throughout the country, with a total balance of approximately 6,800 HUF, a loan portfolio of 3,800 HUF and a deposit portfolio of 4,800 million HUF. It serves 200,000 micro-businesses, 30,000 small and medium-sized businesses, 6,000 private banking partners and is a market leader in many areas, they write.
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