MKB Bank Completes Takeover of Sberbank Hungary Loan Portfolio
Wikimedia Commons/Globetrotter19
MKB Bank on Monday said it has completed the takeover of the credit portfolio of failed Sberbank Magyarország, according to a report by state news wire MTI.
With the transaction, MKB's loan book has expanded by HUF 330 billion and it has taken over about 35,000 retail clients and 3,000 corporate clients.
MKB won a tender to take over the portfolio in May.
Sberbank Magyarország was wound up in March after its Austria-based parent failed amid international sanctions against Russia.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
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.
