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Takarékbank

TakarékBank (lit. 'Savings Bank') was a banking and financial services corporation in Hungary and the central institution for more than 60 co-operative banks and their 1,100 branch offices. In 2023, it merged with MKB Bank to form MBH Bank.[1]

Overview

Since its inception in 1989, TakarékBank functioned both as a central institution and as a corporate and investment bank.[2][3][4] The bank headquartered in Budapest, and as a holding, the Takarék Group defined itself primarily as a service provider for the local cooperative banks and their over 1 million clients. TakarékBank is the short form of the Magyar Takarékszövetkezeti Bank Zrt. (literally "Hungarian Central Co-operative Bank"). TakarékBank represented the interests of the Hungarian Cooperative Financial Institutions at both national and international levels and coordinated and developed the joint strategy within the network. The bank advised and supported his members on legal, taxation, and business management issues. TakarékBank was member of the EACB and the Euro Banking Association. The bank was also member of the Budapest Stock Exchange.

In late 2016 Takarék Group acquired majority stake in FHB Mortgage Bank, thus beginning one of the largest mergers in the Hungarian banking industry, which was finished in 2020.[5][6]

In 2019 TakarékBank consolidated 11 saving co-operatives to form the fifth largest Hungarian financial institution, owning assets worth HUF 2.3tn.[7]

After Budapest Bank merged into MBK Bank in March 2022, in May 2023 TakarékBank and MBK Bank merged to form MBH Bank.[8]

List of CEOs

  • Zsolt Hernádi (1994–2001)[9][10]
  • Péter Csicsáky (2001–2013)[11]
  • József Vida (2017–2021)[12][13]
  • Levente Szabó (2013–2017, 2021–2023)[14][15]

See also

External links

References

  1. MBH Bank Acquires Duna Takarék Bank Zrt. Hungary Today, 2023-07-18, retrieved 2023-12-21^
  2. 16 more cooperative credit institutions have joined the cross-guarantee system TakarékBank, 10 October 2014, retrieved 10 October 2014^
  3. TakarékBank: Savings coop integration achieved goals Budapest Business Journal, 1 June 2016, retrieved 1 June 2016^
  4. TakarékBank: egyre ismertebbek a takarékszövetkezetek Tőzsdefórum, 2013-01-03, retrieved 2023-12-21^
  5. Announcement - VCP sold in OTC transaction 15,970,000 pieces of FHB equity shares to TakarékBank Zrt. FHB Bank, 9 December 2016, retrieved 9 December 2016^
  6. Sikerrel zárult a Takarék-csoport integrációja Magyar Nemzet, 2020-07-10, retrieved 2023-12-21^
  7. Hungarian savings co-ops merge into universal commercial bank Co-operative News, 2019-09-10, retrieved 2023-12-21^
  8. MBH: Second Largest Player in Hungarian Banking Starts Operations Hungary Today, 2023-05-12, retrieved 2023-12-21^
  9. Csák Csongor. Ez az arc lesz a végső? - portré Hernádi Zsolt MOL-vezérről Magyarnarancs.hu, 2005-04-28, retrieved 2023-12-21^
  10. Hernádi Zsolt www.portfolio.hu, retrieved 2023-12-21^
  11. Garancsiéknál kötött ki a volt Takarékbank-vezér Portfolio.hu, 2015-06-10, retrieved 2023-12-21^
  12. Új vezető a Takarékbank élén Infostart.hu, 2017-01-18, retrieved 2023-12-21^
  13. Vezércsere a szuperbanknál: Barna Zsolt és Szabó Levente váltja Vida Józsefet Portfolio.hu, 2021-11-30, retrieved 2023-12-21^
  14. Megerősítették: Lemondott a TakarékBank elnök-vezérigazgatója Világgazdaság, 2013-07-02, retrieved 2023-12-21^
  15. Vezércsere a szuperbanknál: Barna Zsolt és Szabó Levente váltja Vida Józsefet Portfolio.hu, 2021-11-30, retrieved 2023-12-21^