MKB Bank takes over the loan portfolio of Sberbank Hungary
The transfer of the HUF 330 billion loan portfolio of Sberbank Hungary Ltd. “under voluntary dissolution" to MKB Bank Plc. has been concluded. The transaction will add around 35 000 retail and 3 000 corporate customers to the client base of the bank.
MKB Bank Plc. won the tender in May for the loan portfolio of Sberbank Hungary Ltd. currently in liquidation, announced by the Financial Stability and Nonprofit Ltd. The loan portfolio was successfully transferred on 1 August 2022.
"The takeover of the loan portfolio of Sberbank is a significant moment both in the life of the clients and MKB Bank. With this step, a long period of uncertainty will end for tens of thousands of customers and will now be partners of a strong, stable, Hungarian-owned financial institution, where we will provide them with excellent banking infrastructure and services. This is a good opportunity for MKB Bank to grow further and show its integration strength"
MKB Bank will contact the former clients of Sberbank in Hungary and thus they have no further action to take in connection with the administration. Clients may continue to contact customer service of Sberbank with questions about their existing loan.
Following the related financial impact assessments, MKB Bank Plc. had previously submitted a binding offer to acquire the loan portfolio of Sberbank Hungary, affecting approximately 35,000 retail and 3,000 small, medium and large enterprise clients. The agreement to acquire the HUF 330 billion portfolio was signed by MKB Bank and the liquidator of Sberbank Hungary, the subsidiary of Sberbank Europe AG which is in liquidation.