The second largest bank of Hungary will be created in May
MNB approved the merger of MKB Bank and Takarékbank
Yesterday, the Magyar Nemzeti Bank approved the final step of the merger timetable of Hungarian Bankholding. Thus, the two members of the banking group, MKB Bank Plc. and Takarékbank Ltd. will merge on 30 April 2023 as planned, and will continue to operate under the unified brand name and image of MBH Bank Plc. As a result, a wholly Hungarian-owned large bank will be created, which will be the second largest market player of Hungary in terms of total assets. The Group will soon launch an information campaign on the main changes affecting customers.
On 6 February, the MNB approved the final step of the merger timetable set out by Hungarian Bankholding. In accordance with the approval of the Central Bank, Takarékbank Ltd. will be merged into MKB Bank Plc. on 30 April 2023, and the new large bank will continue to operate under the name MBH Bank Plc. The merged bank will be the second largest financial institution in the country, with a balance sheet total of nearly HUF 11 thousand billion. After the merger, the image of the former MKB Bank and Takarékbank branches will also be gradually changed and restructured in several steps, so clients will be able to see the MBH Bank image at more and more points throughout the year.
Until the fusion with Takarékbank, Hungarian Bankholding will harmonise its internal operations; furthermore, work is underway to develop and merge the IT systems of the banks to ensure that customer service will be of an even higher standard after the merger.
„The fusion process, which is unprecedented in the region, will conclude within months; in the meantime, we are preparing for the merger and its related tasks. Many of our colleagues are working hard to ensure that from May, customers will benefit from an integrated and cutting-edge large bank, offering a unified product portfolio and an even more modern national branch network, backed by an even more advanced technology platform."
To present the exact timetable of the merger and the transition, and to inform customers about the most important information, the Group will soon launch a major information campaign through a number of channels, including account statements, e-mails, as well as the websites and social media accounts of member banks.
The member banks of Hungarian Bankholding Group are market leaders in a number of areas, such as corporate lending, within that the lending to the micro, small and medium-sized enterprise sector, the agricultural and food industry, and the leasing market. The banking group has over 1.5 million retail and 300 thousand corporate customers, and it has the largest branch network in the country, employing nearly 10,000 employees. Total assets of the group exceed HUF 10,940 billion.