MKB Bank Completes Takeover of Sberbank Hungary Loan Portfolio

Banking

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.

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