ADVERTISEMENT

TakarékBank passes on name, adopts new moniker

Initiatives

Shareholders of TakarékBank, the "central bank" for Hungaryʼs integrated savings cooperatives, have decided to give the bankʼs name to a universal commercial bank that will be formed from the merger of group members by 2020 and adopt a new name: MTB, state news wire MTI reported.

Takarék Group, which comprises twelve savings cooperatives, two regional banks and Takarék Commercial Bank (formerly called FHB Bank), decided late last year to gradually merge into a single universal commercial bank by 2020.

As a first step, Mohácsi Savings Bank, Pannon Savings Bank and B3 Savings Cooperative will merge from May 1, 2019, and take over MTBʼs stock of deposits and loans.

When the merger is completed, TakarékBank will have the largest network of branches in the country.

MNB Extends Green Capital Requirement Discount Program MNB

MNB Extends Green Capital Requirement Discount Program

EU Should Not Close Itself off From China, Says Minister EU

EU Should Not Close Itself off From China, Says Minister

Continental Dohányipari Lays Cornerstone of HUF 16.5 bln Exp... Manufacturing

Continental Dohányipari Lays Cornerstone of HUF 16.5 bln Exp...

New Textile Collection Celebrates Hungary's Furmint Grape Wi... Art

New Textile Collection Celebrates Hungary's Furmint Grape Wi...

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.