TakarékBank () was a banking and
financial services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...
corporation in
Hungary
Hungary is a landlocked country in Central Europe. Spanning much of the Pannonian Basin, Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia and ...
and the central institution for more than 60
co-operative banks and their 1,100
branch offices. In 2023, it merged with
MKB Bank
MKB Bank, initially Magyar Külkereskedelmi Bank (), was a Hungarian state-owned bank founded in 1950. It was privatized in the mid-1990s, then renationalized in the 2010s. It eventually merged in the early 2020s with Budapest Bank and Takarà ...
to form
MBH Bank.
Overview
Since its inception in 1989, TakarékBank functioned both as a central institution and as a corporate and investment bank. The bank headquartered in
Budapest
Budapest is the Capital city, capital and List of cities and towns of Hungary, most populous city of Hungary. It is the List of cities in the European Union by population within city limits, tenth-largest city in the European Union by popul ...
, and as a holding, the Takarék Group defined itself primarily as a service provider for the local cooperative banks and their over 1 million clients. TakarékBank is the short form of the Magyar Takarékszövetkezeti Bank Zrt. (literally "Hungarian Central Co-operative Bank"). TakarékBank represented the interests of the Hungarian Cooperative Financial Institutions at both national and international levels and coordinated and developed the joint strategy within the network. The bank advised and supported his members on legal, taxation, and business management issues. TakarékBank was member of the
EACB and the
Euro Banking Association. The bank was also member of the
Budapest Stock Exchange
Budapest Stock Exchange (BSE) (, (BÉT)) is the Stock exchange, third largest stock exchange in Central and Eastern Europe by market capitalization and Market liquidity, liquidity. It is located at 55 Krisztina Boulevard, Budapest, Hungary, in ...
.
In late 2016 Takarék Group acquired majority stake in
FHB Mortgage Bank, thus beginning one of the largest mergers in the Hungarian banking industry, which was finished in 2020.
In 2019 TakarékBank consolidated 11 saving co-operatives to form the fifth largest Hungarian financial institution, owning assets worth HUF 2.3tn.
After
Budapest Bank merged into MBK Bank in March 2022, in May 2023 TakarékBank and MBK Bank merged to form MBH Bank.
List of CEOs
*
Zsolt Hernádi (1994–2001)
* Péter Csicsáky (2001–2013)
*
József Vida
József Vida (born January 9, 1963, in Sárvár, Vas) is a retired male hammer thrower from Hungary, who represented his native country at the 1988 Summer Olympics in Seoul, South Korea. He set his personal best (76.01 metres) on July 4, 1999, in ...
(2017–2021)
*
Levente Szabó (2013–2017, 2021–2023)
See also
*
DZ Bank
DZ Bank AG () is the second largest bank in Germany by asset size and the central institution for around 700 cooperative banks and their around 7,200 branch offices. Within that Bundesverband der Deutschen Volksbanken und Raiffeisenbanken, w ...
*
Bundesverband der Deutschen Volksbanken und Raiffeisenbanken
*
Erste Group
Erste Group Bank AG (shortened version Erste Group) is an Austrian financial service provider. It is one of the largest financial service providers in Central and Eastern Europe serving more than 16 million clients in over 2,000 branches in seven ...
*
OTP Bank
OTP Bank Group is the largest commercial bank of Hungary and one of the largest independent financial service providers in Central and Eastern Europe, with banking services for private individuals and corporate clients. The OTP Group comprises su ...
*
Economy of Hungary
The economy of Hungary is a developing, high-income mixed economy that is the 53rd-largest economy in the world (out of 188 countries measured by IMF) with $265.037 billion annual output, and ranks 41st in the world in terms of GDP per capita ...
References
External links
Official website
Banks of Hungary
Companies based in Budapest
Hungarian brands
Banks established in 1989
Financial services companies established in 1989
Investment banks
Online brokerages
Primary dealers
{{bank-stub