The former right-hand man of Sandor Kasani may be the new chairman of MKB

The former right-hand man of Sandor Kasani may be the new chairman of MKB

The article was originally published on the website of our partner, Privatbankar.hu

Last Friday, MKB announced that its chairman and CEO, dám Balog, will leave voluntarily, effective December 31, 2020, but no later than March 1, 2021. The date will depend on when a new chairman is appointed to be elected at the scheduled extraordinary general meeting On the 14th of December due to the departure of Baluj. This is mainly affected by the time the licensing process is completed for Magyar Nemzeti Bank (MNB).

At first glance, Balog’s resignation may be unexpected because MKB is currently involved in one of the largest projects in the history of the Hungarian banking system since 1987, as the majority-owned L creditrinc Mészáros credit institution merged with Takarékbank and Budapest Bank (BB). OTP Bank is yet – the second largest credit institution. The merger, which has been confirmed in professional circles for years, became a reality in May of this year, when Takarékbank and MKB first announced their intention to merge, and BB quickly joined the duo. In pictures taken at the time, bank executives looked smiling at us – Balog included.

The leaders of the banks that founded Magyar Bankholding are: (from left) Lélfai Koppány (BB), József Vida (Takarékbank) and Ádám Balog (MKB). Photo: MTI

There was nothing more natural than the fact that the chairman of MKB – like his other colleagues – got a significant role in Magyar Bankholding Zrt. , A company established to prepare for the merger, which was expected to last for several years and was registered. By the court at the end of June. It is true that he did not become president, but the number one man of Takarik Bank, after the election of the government, gained experience in several mergers.

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