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Pest County savings cooperatives to merge

Savings cooperatives Monor és Vidéke, Dél-Pest Megyei and Pécel és Vidéke will merge this year and operate as Pátria Takarék from January, the savings cooperatives told MTI on Monday.

Pátria Takarék will have total assets of HUF 47 billion making it Hungary's fourth-biggest savings cooperative. The merged cooperatives will have net assets of almost HUF 4billion.

Pátria Takarék will account for about 60% of total assets, net assets, lending stock and pre-tax profit of savings cooperatives in Pest County.

It will have 38 branches, including 14 in communities where there are no other financial service providers.