A new Hungarian megabank to be established

A new Hungarian bank is formed with the fusion of MKB Bank Nyrt. and Takarékbank Zrt.

The Hungarian National Bank (Magyar Nemzeti Bank – MNB) has approved the final step of the merger plan set out by Hungarian Bankholding (Magyar Bankholding), reports index.hu. This means that Takarékbank Zrt. will be merged into MKB Bank Nyrt. on 30 April 2023, as planned. The new megabank will continue to operate under the name MBH Bank Nyrt.

Hungary’s second-largest bank

After the merger, the bank will become the second-largest financial institution in Hungary, overtaking OTP Bank. The new megabank will have a balance sheet total of nearly HUF 11 thousand billion (approx. EUR 28.5 billion).

Magyar Bankholding is already working hard to prepare for the merger of the two banks. They are currently working on developing and merging their IT systems. This was announced by Ádám Egerszegi, Hungarian Bankholding’s Deputy CEO for Transformation and Operations. According to him, the bank merger, which will be completed within months, is unprecedented in the region.

[…] We have numerous colleagues working to ensure that from May, customers will experience the benefits of an integrated and cutting-edge major bank, offering a unified product portfolio and an even more modern national branch network, with an enhanced technological basis,