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May 03, 2015 11:58 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 utca 38

Budapest,  1056

Hungary

Founded in 1950

2,745 Employees

Phone:

36 1 327 8600

Fax:

36 1 327 8700

Key Executives for MKB Bank Zrt.

Chairman of Life Insurance & General Insurance Arms and Chief Executive Officer of Life Insurance & General Insurance Arms
Deputy Chief Executive and Director
Deputy Chief Executive and Director
Deputy Chief Executive and Director
Deputy Chief Executive Officer
Compensation as of Fiscal Year 2014.

MKB Bank Zrt. Key Developments

MKB Bank to Lay Off Almost 300 Staff in the Year 2015

MKB Bank will lay off almost 300 staff in the year 2015. The layoffs are part of a reorganisation launched last December 2014. With headcount at the present level, the bank cannot boost operating efficiency. The bank noted that management positions have been cut by more than 30% since the start of the year.

MKB Bank Announces Earnings Results for the Full Year 2014; Provides Earnings Guidance for the Years 2015 and 2016

MKB Bank announced earnings results for the full year 2014. For the year, the company reported after-tax loss grew to HUF 148.1 billion on the impact of borrowers relief legislation and write-downs on bad loans. Losses grew from HUF 122.2 billion in 2013. The company announced that it will continue to strengthen its profitable businesses this year and improve efficiency. It expects to close 2015 around the break-even mark and turn a profit in 2016.

MKB Bank to Cut 35 Senior Positions

MKB Bank is continuing with the elimination of 35 senior positions, which corresponds to a more than 30%.

Similar Private Companies By Industry

Company Name Region
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Citibank Europe plc Hungarian Branch Office Europe

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 8, 2015
General insurance and life insurance units of MKB Bank Zrt.
Merger/Acquisition
July 24, 2014
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