May 15, 2020 / 3:22 PM / 16 days ago

Hungary's MKB Bank and Takarek to launch joint holding company

BUDAPEST, May 15 (Reuters) - Hungary’s MKB Bank and savings and loans group MTB Magyar Takarekszovetkezeti Bank have signed a letter of intent to establish a joint financial holding company, MKB said in a statement on Friday.

MKB said the role of new holding company would be to explore the possibility to create a new banking group with a significant market share. It said the two lenders combined could be the second-largest banking group in Hungary. (Reporting by Gergely Szakacs, editing by Louise Heavens)

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