Financial Services Industry
Industry: Email Alert RSS FeedFirst glimpses of consolidation.(post-communist Hungarian bank mergers)(Brief Article)
Banker, The, January, 2001 by Jones, Colin
Recent merger movement in Hungary may be a sign of a third phase in post communist banking -- consolidation.
The recent decision by the KBC bancassurance group and ABN Amro to merge their banking activities in Hungary is not the first or the only such merger to be taking place in Hungarian banking. Last April, Citibank acquired ING Bank's 12-branch retail banking network, raising the us bank's presence in Hungary to a total of 17 branches, while OTP Bank, which is Hungarian owned, is negotiating with the Hungarian government to take over the rehabilitated Postabank.
Are these three transactions the harbinger of the long expected consolidation of Hungary's banking sector? While the Citibank/ING Bank deal does not involve the merger of the whole range of...
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