September 28, 2016 3:14 AM ET

Banks

Company Overview of MKB Bank Zrt.

Company Overview

MKB Bank Zrt. provides various banking and non-banking products and services in Hungary. The company’s Corporate Banking segment provides trade finance, credit products, accounts and deposit products, forfeiting and factoring, letters of credit, guarantees, international payments, portfolio management, project and structured finance, investment and financial advisory services to large Hungarian and regional public and private-sector entities. Its Institutional Banking segment serves financial institutions and financial service companies with nostro and vostro account services, payments, and correspondent banking activities, as well as participates in bank-to-bank finance, club, and syndicate...

Váci u. 38

Budapest,  1056

Hungary

Founded in 1950

1,736 Employees

Phone:

36 1 327 8600

Fax:

36 1 327 8700

Key Executives for MKB Bank Zrt.

Chief Executive Officer and Member of the Board of Directors
Chairman of Life Insurance & General Insurance Arms and Chief Executive Officer of Life Insurance & General Insurance Arms
Deputy Chief Executive Officer and Member of the Board of Directors
Deputy Chief Executive and Member of the Board of Directors
Legal Counsel and Member of Supervisory Board
Compensation as of Fiscal Year 2016.

MKB Bank Zrt. Key Developments

Speculation Of A Merger Of MKB And Budapest Bank Back On

Speculation is rising that MKB Bank Zrt. could take a role in the privatization of Budapest Hitel és Fejlesztési Bank Zrt., local press reported on July 14. Speculation about a merger of MKB and Budapest Bank is now rekindling, just two months or so after the government sold MKB and appointed a new commissioner of national financial services. The government itself was the first to suggest the two banks could be merged, after the pair came into state hands. Unnamed sources told Vilaggazdasag that the two banks would clearly complement each other. "Such a transaction would be a logical move," that would "bring about cost synergies," they add. Magyar Nemzeti Bank reportedly supports a merger. It is questionable, however, whether the new owners of MKB would be willing to pay $700 million for the full 100% stake in Budapest Bank. Economy Minister Mihaly Varga has insisted the state wants "at least" its money back for the lender.

EBRD May Still Buy Stake in MKB Bank

The European Bank for Reconstruction and Development (EBRD) may still acquire a stake in MKB Bank Zrt., after the sale of the bank is closed, the deputy governor of the National Bank of Hungary said on April 8, 2016. "EBRD was in the dataroom, it is interested in MKB Bank," Marton Nagy told reporters. "I think it is still involved, I think there are talks ongoing between the winners and EBRD.". The central bank has agreed to sell MKB for 37 billion forints to a consortium of three investors, Hungarian private equity fund Metis, Luxembourg-based fund Blue Robin Investments SCA and Hungarian pension fund Pannonia last week.

MKB Bank Zrt. Announces Earnings Results for the Full Year of 2015

MKB Bank Zrt. announced earnings results for the full year of 2015. The company posted after-tax losses of HUF 76.402 billion last year. The losses halved from HUF 148.1 billion in 2014 and the loss was just HUF 1.243 billion last year if one-off items related to the reorganisation of the bank were excluded.

Similar Private Companies By Industry

Company Name Region
GRÁNIT Bank Zrt. Europe
HAJDÚ TAKARÉK Takarékszövetkezet Europe
ICB Bank Zrt Europe
Kapolnasnyek es Videke Takarekszovetkezet Europe
MagNet Bank Zrt. Europe

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 30, 2016
--
Merger/Acquisition
December 18, 2015
Property Loans Worth HUF 213 Billion
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
NYC2012, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact MKB Bank Zrt., please visit www.mkb.hu. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.