Germany's DZ Bank tries to take control of Takarékbank


Saving banks tend to lose out against banks in dynamism, but their financial situation is even shakier due to the tens of millions of forints worth of hopeless loans granted earlier to various leasing and factoring companies. 

As a way out and up, saving banks either choose to turn into banks or merge with each other. To keep abreast, saving banks' interest association OTSz has recently modified its statutes so that OTSz members may become legal heirs to any saving bank. Answering a call for help by OTSz, DZ Bank AG shows willingness to take over the 6.64% stake that insurance company Allianz Hungary Zrt holds in Takarékbank Zrt, the umbrella institution for saving banks, which was previously offered for sale, but the other saving banks declined to buy. According to Napi Gazdaság information, DZ will try to acquire from the saving banks as many Takarékbank shares as to add up to a 75% stake. At present Takarékbank is co-owned by OTSz members, Allianz and DZ. (Napi Gazdaság)




Orlen Enters Hungarian market Energy Trade

Orlen Enters Hungarian market

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Mahart Container Center Depot Opening at Budapest Airport Transport

Mahart Container Center Depot Opening at Budapest Airport

MTÜ Launches Int'l Campaign for Hungarian Spas Tourism

MTÜ Launches Int'l Campaign for Hungarian Spas


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.