MKB Bank, Takarékbank Merger to be Dubbed MBH Bank

Banking

MKB Bank and Takarékbank will merge in May 2023 and take the name MBH Bank, Magyar Bankholding said this week.

The merger is the next step in a three-way tie-up, first announced in 2020, between MKB Bank, Takarékbank, and Budapest Bank to create Hungary's second-biggest lender.

MKB Bank and Takarékbank merged in the spring of 2022.

Magyar Bankholding, which has coordinated the fusion, noted that MBH Bank will have over HUF 10 trillion in total assets and around 2.3 million clients.

While its balance sheet will make it runner-up, it will be market leader on the corporate lending and farm lending markets, Magyar Bankholding added.

The choice of the name MBH Bank was taken after more than a year of market research.

The name and brand will be rolled out from May, first at flagship branches. Client bank cards will also be rebranded.

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