About MTB Magyar Takarékszövetkezeti Bank Zrt
Through their more than 160-year history in Hungary, Cooperative Credit Institutions have always been among the key players in the Hungarian banking system. After several transformations, the ancestors of modern savings cooperatives were formed in the 1950s. The change of regime brought a significant change in the life of the sector, as with the consolidation of the banking market, the savings cooperatives established their central bank, TakarékBank (now MTB Zrt.), With the aim of strengthening the market position and centrally supporting business activities. In 1993, they established the Savings Cooperative Integration and set up their common security fund, the National Savings Cooperative Institutional Protection Fund (OTIVA). With these steps, the number of savings began to decline.
By the mid-2010s, strengthening integration and standardization of operations had become inevitable, aided by the enactment of the 2013 Integration Act. The aim is to modernize the sector, reduce its risks and create an effective cooperative group… Continue reading about MTB Magyar Takarékszövetkezeti Bank Zrt here.
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