The Hungarian Industrial & Commercial Bank was a significant albeit short-lived Hungarian bank with head office in Budapest. It was created in 1890 with sponsorship from Wiener Bankverein and additional participation by Deutsche Bank.[1] It appointed István Tisza as its president, a position the future statesman kept until 1901.[2] Count Gyula Andrássy the Younger and German financier Eugen Gutmann were among its high-profile board members.[3]
Under Tisza's direction, the bank expanded rapidly but became overstretched, collapsing into bankruptcy in 1902 in part because of ill-timed investments in the Romanian petroleum industry.
See also
- Hungarian Commercial Bank of Pest
- First National Savings Bank of Pest
- Hungarian Mortgage Credit Bank
- Hungarian General Credit Bank
- Hungarian Discount and Exchange Bank
- List of banks in Hungary
References
- Bela Tomka. A magyarországi pénzintézetek rövid története, 1836-1947 Aula Kiadó, 2000^
- Tisza István, 1897-től gróf (1861-1918) Magyar Elektronikus Könyvtár (MEK) - Hungarian Electronic Library^
- Thomas Barcsay. Banking in Hungarian Economic Development, 1867-1919