Hungarian Bankholding announces 2023 launch date

Banking

Zsolt Barna

Hungarian Bankholding Ltd. has approved the five-year business strategy for the merger of Budapest Bank, MKB Bank, and Takarékbank, looking to commence operations as a unified bank in 2023, according to a press release sent to the Budapest Business Journal.

Hungarian Bankholding says that its goal is to become the most modern bank in Hungary, introducing flexible, internationally leading digital solutions. 

According to the press release, the new large bank will serve the full market spectrum and all customer segments in the future, with a significant emphasis on the provision of new, modern range of products and services to retail, micro, small and medium-sized enterprise, and agricultural customers. The group will retain its market-leading corporate, agricultural, and leasing positions in the new business model.

“We calculate growth significantly above the market average in the retail, micro, and small sectors and agricultural segments. The goal is to increase the financial results of the banking group dynamically, but stably at the same time,” said Zsolt Barna, chairman of the board of Hungarian Bankholding.

Hungarian Bankholding has also declared that in accordance with the new business strategy, it will completely return the generated profits to the development and operation of the banking group over the next five years. The new large bank says that it will continue to operate the largest branch network in Hungary following the transformation and will remain committed to serving those living in small settlements, aiming to become a market leader with a strong digital orientation.

"The strategy includes the introduction of internationally leading digital solutions, but at least as much emphasis is placed on creating a flexible, continuously renewable organization and corporate culture based on recognizing and serving the needs of our customer," noted Barna in connection with the announced strategic objectives. "A historic transformation in the Hungarian banking sector is underway, carried out by the everyday work of an extremely strong professional team."

The key owners of Budapest Bank Ltd., MKB Bank Plc. and MTB Ltd. transferred their bank shares to the Hungarian Bankholding Ltd. on December 15, 2020, which established the unified ownership structure and management of the three banks.

The three-member banks already serve 1.4 million active retail customers and 208,000 active corporate customers. The holding is the market leader in many fields. Its aggregated balance sheet is HUF 8.424 trillion, it has a HUF 3.787 tln credit volume and a HUF 5.414 tln deposit volume.

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