Hungary's 52 savings banks to merge into 12 regional banks-association

MBH Jelzalogbank Nyrt

21/03/2017 11:54

BUDAPEST, March 21 (Reuters) - Fifty-two Hungarian savings 
cooperatives will merge into 12 regional savings banks by the 
end of the year, the integration association of savings banks 
(SZHISZ) said in a statement on Tuesday. 
     "The main goal... is strengthening savings cooperatives' 
efficient and successful operation, using capital in a more 
concentrated way, lifting sales efficiency ...," said Jozsef 
Vida, Chairman and CEO of Takarekbank, the sector's umbrella 
bank, in the statement. 
     
 
 (Reporting by Sandor Peto and Marton Dunai) 
 ((sandor.peto@thomsonreuters.com; +36 1 327 4744; Reuters 
Messaging: sandor.peto.thomsonreuters.com@reuters.net)) 
 
Keywords: HUNGARY SAVINGSBANKS/