The Takarék Group has more than 1m clients and, every day, its over 750 branches open up their doors all over Hungary. In addition to the regional savings cooperatives, the fifth-largest banking group of Hungary includes the central bank for savings cooperatives, Takarék Kereskedelmi Bank Zrt., MTB Magyar Takarékszövetkezeti Bank Zrt, Takarék Jelzálogbank Nyrt. as well as various factoring, leasing, IT, fund-management and other financial services companies and subsidiaries.
The mortgage bonds of Takarék Jelzálogbank Nyrt., the first issuer on the Hungarian mortgage bond market, have been traded on the BSE since 2001. Since then, the bank has eight times won the prize for bond issuer of the year. The Class A common shares of Takarék Jelzálogbank have been listed in the premium category of Budapest Stock Exchange since 2003 and is included in BUX, the equity index of large-cap (blue chip) companies, and BUMIX, the equity index of mid- and small-cap companies.
The modernisation of savings cooperatives could improve the lives of hundreds of thousands of individuals and businesses. The principal goals of the transformation are to increase competitiveness as well as to modernise businesses and their organisational models. This is the aim of the unanimously adopted business strategy of Takarék Group. It focuses on creating a bank which is modern and universal to the core by gradually merging savings cooperatives all over the country.
Although the transformation has been underway for years now and still requires considerable efforts, the marked improvement of the Takarék Group last year has already proved the value of the project: pretax earnings of HUF 20 bn in a single year have brought them into the black.
A unified Takarékbank means that our clients can manage their finances anywhere in the country, in any Takarék branch. We are also updating our products and digitalising our processes, working to serve entire generations and families, and we are also strengthening our relations with SMEs and agribusinesses. In addition, a well-operating Takarék Group can contribute considerably to the efficiency and stability of the Hungarian banking sector, to its role in strengthening the nation’s economy, and to increasing the competitiveness of the country.
A few years ago, we decided we would join forces and continue our journey together on the same path. It was a bold undertaking, but, as the local saying has it, “it takes more than two hops to cross a canyon”, that is: major undertakings take a commensurate amount of effort. I truly believe that this is the only way to success. I also believe that success will benefit everyone: our clients, the savings cooperatives, local communities, families and, ultimately, the entire country.