ADVERTISEMENT

First consolidated report approved by Takarékbank shareholders

Initiatives

Shareholders of Takarékbank, the "central bank" for Hungaryʼs recently integrated savings cooperatives, has approved the first consolidated report of the bank, which showed total assets of HUF 1.8 trillion at the end of last year, at an AGM last Friday, Takarékbank said, according to news agency MTI.

The balance sheet includes Takarékbank, the 113 savings cooperatives involved in the integration and other related companies. The 2015 business plan, which was given to shareholders, reportedly includes the launch of joint products and further developments of an integrated IT system.

Priorities include boosting client numbers, expanding investment services and products and growing the securities portfolio. Last year, Hungarian savings cooperatives continued to focus on SME lending, making use of HUF 50 bln from the National Bank of Hungaryʼs Funding for Growth Scheme, according to Takarékbank. The bank said earlier that its unconsolidated total assets rose two-thirds to HUF 800 bln in 2014.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.