Hungary’s Budapest Bank to join MKB-Takarek merger

Industry:    2020-05-27

Hungary’s state-owned Budapest Bank will join a strategic alliance of MKB Bank and savings group Takarekbank, forming the country’s second-largest banking group, the banks said in a joint statement on Tuesday.

The banks are “examining and preparing the framework for setting up a new, domestically owned banking group with significant market power”, they said, adding that the three lenders have combined assets of 5.8 trillion forints ($18.3 billion).

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