The Hungarian Mortgage Credit Bank (, occasionally referred to simply as "Mortgage Bank") was a significant Hungarian bank, founded in 1869 in

Budapest Budapest is the Capital city, capital and List of cities and towns of Hungary, most populous city of Hungary. It is the List of cities in the European Union by population within city limits, tenth-largest city in the European Union by popul ...

. By 1913 it was the third-largest bank in the country by total assets, behind the

Hungarian Commercial Bank of Pest The Hungarian Commercial Bank of Pest (, PMKB, occasionally referred to simply as "Commercial Bank") was Hungary's first modern bank, established in 1840–1841. It was nationalized in the early Communist era and repurposed in 1950 as the Hungari ...

and the

First National Savings Bank of Pest The First National Savings Bank of Pest (PHET) (), sometimes translated as ''First Domestic Savings Bank'' or referred to simply as ''First Savings Bank'', was a major Hungarian bank that was established in 1839–1840 and was eventually national ...

. It was nationalized in 1947–1949, together with the rest of the Hungarian banking sector. In 1881, it received further investment from a group of investors formed by Vienna's Unionbank and France's

Société Générale Société Générale S.A. (), colloquially known in English-speaking countries as SocGen (), is a French multinational universal bank and financial services company founded in 1864. It is registered in downtown Paris and headquartered nearby i ...

and

Banque de Paris et des Pays-Bas The Banque de Paris et des Pays-Bas (, ), generally referred to from 1982 as Paribas (), was a French investment bank based in Paris. In May 2000, it merged with the Banque Nationale de Paris to form BNP Paribas. History Background In the ...

. The bank was long led by Hungarian statesman

Kálmán Széll Kálmán Széll de Duka et Szentgyörgyvölgy (8 June 1843 – 16 August 1915) was a Hungarian politician who served as Prime Minister of Hungary from 1899 to 1903. Early career He was born in the ancient Hungarian noble family Széll de Du ...

. The Mortgage Bank remained among the country's leading banks during the interwar period. Its chairman and CEO from 1918 to 1925 was . Its managing director from 1937 to 1944 was Imre Oltványi, who would become governor of the

Hungarian National Bank The Hungarian National Bank ( , MNB) is the central bank of Hungary and as such part of the European System of Central Banks (ESCB). It was established in 1924 as a successor entity of the Austro-Hungarian Bank, under the economic assistance ...

in the immediate postwar era.

Notes

{{reflist Defunct banks of Hungary Banks established in 1869

See also

Notes