The general meetings have decided: the giant bank will be created

By: Trademagazin Date: 2022. 12. 09. 09:44

On December 9, the general meeting of MKB Bank and Takarékbank accepted the second step of Magyar Bankholding’s merger schedule, and the general meeting of MKB Bank also decided to increase MKB’s capital.

The final step of the merging process is carried out with the permission of the Hungarian National Bank, and the related supervisory procedure is currently ongoing.

According to this, the two member banks of the banking group, MKB Bank and Takarékbank, will merge on May 1, 2023, and after May 1, they will continue to operate under the name MBH Bank Nyrt., with a unified brand name and image. The resulting large bank will be Hungary’s second largest market player, with a total balance sheet of nearly HUF 11,000 billion, 2.3 million customers and a market-leading position in many areas. The supervisory authorization necessary for the implementation of the next step of the merger is in progress.

On December 9, Magyar Bankholding reached another important milestone. The general meetings of MKB Bank Nyrt., listed on the Budapest Stock Exchange, and Takarékbank Zrt. approved the decision proposals for the merger of the member banks. The general meeting of MKB Bank Plc. also made a decision to increase MKB’s capital by over HUF 23 billion, according to which the credit institution’s share capital will increase to nearly HUF 322 billion as of December 9, thereby ensuring further stability for the bank’s owners and customers.