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MNB clears Erste Home Savings Bankʼs Aegon takeover

The National Bank of Hungary (MNB) has cleared the takeover by Erste Home Savings Bank of Aegon Home Savings Bankʼs portfolio from October 25, 2019, state news wire MTI reported Tuesday. 

As a result, Erste Home Savings Bank will acquire almost 64,000 contracts with deposits of HUF 30 billion, held by about 50,000 clients. Its market share will increase to 14%.

Erste Home Savings Bank had 115,000 clients holding 157,000 contracts and some HUF 92 bln in deposits last year, controlling 10% of the market.