The Hungarian Mortgage Credit Bank (Hungarian: Magyar Jelzálog-Hitelbank, occasionally referred to simply as "Mortgage Bank") was a significant Hungarian bank, founded in 1869 in Budapest. By 1913 it was the third-largest bank in the country by total assets, behind the Hungarian Commercial Bank of Pest and the First National Savings Bank of Pest.[2]: 219 It was nationalized in 1947–1949, together with the rest of the Hungarian banking sector.[3]
In 1881, it received further investment from a group of investors formed by Vienna's Unionbank and France's Société Générale and Banque de Paris et des Pays-Bas. The bank was long led by Hungarian statesman Kálmán Széll.[2]: 219
The Mortgage Bank remained among the country's leading banks during the interwar period.[4]: 192 Its chairman and CEO from 1918 to 1925 was Gyula Madarassy-Beck. Its managing director from 1937 to 1944 was Imre Oltványi, who would become governor of the Hungarian National Bank in the imemdiate postwar era.
See also
editNotes
edit- ^ Economic Conditions in Hungary, Great Britain Department of Overseas Trade, 1921, p. 47
- ^ a b Thomas Barcsay (1991), "Banking in Hungarian Economic Development, 1867-1919", Business and Economic History, 20, Cambridge University Press: 216–225, JSTOR 23702819
- ^ Imre Lengyel (April 1994), "The Hungarian Banking System in Transition", GeoJournal, 32 (4): 381–391, JSTOR 41146180
- ^ János Botos (October 2017), "The Hungarian banking system from the trauma of Trianon to nationalization" (PDF), Economy and Finance, 4 (3), Budapest: Hungarian Banking Association