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Since its inception in 1989, TakarékBank functioned both as a central institution and as a corporate and investment bank. [2] [3] [4] The bank headquartered in Budapest, and as a holding, the Takarék Group defined itself primarily as a service provider for the local cooperative banks and their over 1 million clients.
A bank building in Budapest. MagNet Bank (Hungarian: MagNet Magyar Közösségi Bank Zrt., lit. 'MagNet Hungarian Community Bank'), known as the HBW Express Savings Co-operative (Hungarian: HBW Express Takarékszövetkezet) until 2010, is the only community bank in Hungary that practises ethical banking.
MKB was created in 1950 within the communist-era single-tier banking system, in which it was one of the country's four main financial institutions alongside the Hungarian National Bank, the Hungarian Investment Bank (renamed the State Bank for Development in 1972 and liquidated in 1987), [2]: 386 and the Hungarian National Savings Bank Company.
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Budapest Bank was a commercial bank founded in 1987 with headquarters in Budapest, Hungary. [1]In 1995 the bank was sold to GE Capital, but in 2015 it became again a state owned bank.