Savings coops approve five-year strategy

Analysis

A five-year strategy for Hungaryʼs integrated savings cooperatives that stresses digitalization, as well as growth among microbusinesses, SMEs, farmers and young people, was approved on Tuesday, József Vida, the chairman-CEO of Takarékbank, the "central bank" for savings coops, told Hungarian news agency MTI.

The strategy was approved unanimously by stakeholders with more than 99% ownership of savings coops at an extraordinary general meeting of Takarékbank, said Vida.

From January next year, the integration will be based on twelve strong regional savings coops, together with Takarékbank, a central commercial bank and a mortgage bank, the chairman-CEO added, the latter two institutions being FHB Commercial Bank and FHB Mortgage Bank.

Separate units for factoring, leasing, fund management and other supplementary financial services will come under the direction of Takarékbank, he said.

HUPX Joining Serbian, Slovenian Peers in Adex Power

HUPX Joining Serbian, Slovenian Peers in Adex

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

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.