The triple merger of MKB, Budapest Bank, and Takarékbank has been a smoother process than expected.Continue reading
MBH Bank will acquire a 98.46 percent stake in Duna Takarék Bank from Danube Private Equity Fund. The financial institution reported on the Budapest Stock Exchange website that the sale and purchase agreement was signed on Monday. The transaction is subject to preliminary supervisory approval, according to MBH Bank.
MBH Bank was created by the merger of MKB Bank and Takarékbank at the end of April. Prior to that, Budapest Bank was merged into MKB Bank.
MBH Bank serves almost 2 million retail and corporate customers, with a total balance sheet of more than 10 600 billion forints (EUR 28.3 B), deposits of almost 6500 billion forints (EUR 17.4 B) and gross loans of more than 5000 billion forints (EUR 13.4 B).
“We are at the end of a successful triple merger on a scale and speed unprecedented in Europe, and I would like to take this opportunity to thank my 10,000 colleagues and hundreds of our partners for their support, without whom we could not have completed this merger so smoothly. At the same time, the end of the merger is a new beginning: we are building a dynamic, digital, market-leading bank on solid foundations, effectively supporting the domestic economy, offering more and more attractive products to customers and creating stronger competition in the domestic banking market,” Zsolt Barna, CEO of MBH Bank is quoted as saying on the bank’s website.
Featured image: Facebook/MBH Bank