KBC and ABN Merger Goes Ahead

The proposed merger reported last month between Kereskedelmi es Hitelbank (a subsidiary of Belgium’s KBC Bank) and Magyar Bank (owned by the Dutch group ABN Amro) was confirmed yesterday.

Rumours of Changes Amongst Industry Players Persist

Rumours are currently circulating that Budapest Bank are planning to withdraw from the Hungarian factoring market. This would leave only two major industry players in Hungary: Magyar Factors and the Hungarian Foreign Trade Bank.