MKB and MTB partner to launch joint holding company in Hungary

Tuesday 19 May 2020 10:48 CET | News

Hungary-based MKB Bank and savings and loans group Magyar Takarekszovetkezeti Bank (MTB) have signed a letter of intent to establish a joint financial holding company.

According to Reuters, the role of the new holding company would be to explore the possibility to create a new banking group with a significant market share.

The new venture will be called Magyar Bankholding Zrt, and each lender will own a 50% stake in the new company. Both the lenders are expected to apply to form the new holding company to National Bank of Hungary (NBH).

MKB mainly focusses on providing private and corporate banking services to its customers, while MTB intends to become a full-service universal bank to improve its operational efficiency and reduce costs.

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Keywords: Hungary, MKB Bank, Magyar Takarekszovetkezeti Bank, MTB, banking, banks, Magyar Bankholding Zrt, National Bank of Hungary, NBH
Categories: Banking & Fintech
Countries: Hungary
This article is part of category

Banking & Fintech