Hungarian Mortgage Credit Bank

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]

Former head office of the Mortgage Bank, Nador utca 7 in central Budapest[1]

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

Notes
  1. Economic Conditions in Hungary, Great Britain Department of Overseas Trade, 1921, p. 47
  2. Thomas Barcsay (1991), "Banking in Hungarian Economic Development, 1867-1919", Business and Economic History, Cambridge University Press, 20: 216–225
  3. Imre Lengyel (April 1994), "The Hungarian Banking System in Transition", GeoJournal, 32:4: 381–391
  4. János Botos (October 2017), "The Hungarian banking system from the trauma of Trianon to nationalization" (PDF), Economy and Finance, Budapest: Hungarian Banking Association, 4:3
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