K&H Bank

K&H Bank (Hungarian: Kereskedelmi és Hitelbank, lit. 'Commercial and Credit Bank') is one of the biggest commercial banks in Hungary, owned by the Brussels-based KBC Group since 1999.

K&H Bank
TypePublic
IndustryFinancial Services
Founded1987
HeadquartersBudapest, Hungary
Key people
  • David Moucheron (CEO)
  • Attila Gombás (deputy CEO, Head of Finance and Corporate, SME Credit Management Division)
  • Lajos Beke (deputy CEO, Head of CRO Services Division)
ProductsBanking and insurance
Number of employees
4,000+
Websitekh.hu

History

K&H was established as Országos Kereskedelmi és Hitelbank Rt. (OKHB, lit. 'National Commercial and Credit Bank') by the so-called two-tier banking reform of 1987, as one of the three main commercial banks spun off from the Hungarian National Bank together with Budapest Bank (BB) and Hungarian Credit Bank (MHB).[1]: 2  The OKHB initially had a network of 47 local offices, the largest of the three.[2]: 386  In 1993, it purchased IBUSZ Bank, which had been formed after the end of communism in Hungary from the IBUSZ network of travel agencies. In 1997 the bank, by then known as K&H,[1]: 11  was privatised with support from the EBRD and purchased by a consortium of Belgium's Kredietbank and Irish Life. In 1999 Kredietbank's successor group KBC bought out shares from Irish Life and held 80 percent of K&H, raised to 100 percent in 2007. In 2001, K&H acquired MHB, which in 1996 had been acquired by ABN AMRO and merged with the latter's own Hungarian subsidiary created in 1993.[3]

Operations

K&H Bank has total assets of HUF 2 826 billion, and a nationwide network of more than 200 branches. It offers a full range of financial products, including conventional products: account management, investments, savings, loans, bank guarantees, bank card services, custody management, treasury, project financing, Private Banking services as well as investment fund management, leasing, securities trading, factoring, life and pension insurance. These latter services are offered through subsidiaries.

By the end of 2021, K&H announced that it will have achieved carbon neutrality, with plans to reduce its carbon emissions to 80 percent by 2030 compared to 2015.[4]

The company has been the official jersery sponsor of the Hungarian national basketball team.

See also

References
  1. Arpad Kovacs (September 1997), The Hungarian Banking System (PDF), Organisation for Economic Co-operation and Development
  2. Imre Lengyel (April 1994), "The Hungarian Banking System in Transition", GeoJournal, 32:4: 381–391
  3. Péter Vass (March 2019), "Member banks of the Hungarian Banking Association" (PDF), Economy and Finance (GÉP), Budapest: Hungarian Banking Association, 6:1: 91–93
  4. "Elérhette a karbonsemlegességet az egyik hazai bank". 24.hu (in Hungarian). 2021-12-28. Retrieved 2022-09-23.
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