The general meeting of MKB Bank Plc. also decided to increase MKB’s capital by over HUF 23 billion, according to which the credit institution’s share capital will increase to nearly HUF 32 billion as of December 9, thus ensuring further stability for the bank’s owners and customers.
THE Hungarian Bankholding according to his plans, the merger of MKB Bank and Takarékbank took place on May 1, 2023, during which Takarékbank merged into MKB Bank. With the joining of the credit institution next May, the process of a merger of historical importance in the Hungarian banking sector and unique in the region will be completed, according to the press release of Magyar Bankholding.
Until the merger with Takarékbank, Magyar Bankholding is harmonizing its internal operations, and work is ongoing on the development and unification of the bank’s IT systems. The merger of the members of the bank group creates an integrated universal bank that offers a comprehensive range of products for both retail and corporate customers.
With a balance sheet total of nearly HUF 11,000 billion, it will be the second largest bank in Hungary, with approximately 2.3 million customers, as well as a market leader in several segments.
We can proudly say that the merger is still progressing successfully as planned. The results achieved since the spring merger of Budapest Bank and MKB clearly show that we were able to effectively implement many synergy effects. After the merger with Takarékbank, the new bank, as a stable, Hungarian-owned financial institution, offers – in addition to its expertise – an even more uniform product portfolio and an even more modern branch network to the domestic population and companies
– stated Zsolt Barna, a Hungarian Bankholding and the president and CEO of MKB Bank Nyrt. From May 2023, the merged MKB Bank and Takarékbank will continue to operate under the name MBH Bank Nyrt., with a unified brand name and image. From here on, the larger, flagship stores will be renewed first, followed by a gradual rebranding of the branches, the announcement reads.
From May, the entire bank card portfolio and online interfaces will be renewed under the new image. In addition to the advertising campaign, the introduction of the new brand is supported by significant social responsibility and sponsorship programs.
Magyar Bankholding pays particular attention to ensuring that the steps of the merger process and rebranding take place smoothly and as smoothly as possible for the customers of Takarékbank and MKB Bank.
The final step of the merger process is carried out with the permission of the Hungarian National Bank, and the related supervisory procedure is currently ongoing.
(Cover photo: Gorondy-Novák Edit / Index)