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

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

Notes

  1. ↑ Economic Conditions in Hungary, Great Britain Department of Overseas Trade, 1921, p. 47
  2. 1 2 Thomas Barcsay (1991), "Banking in Hungarian Economic Development, 1867-1919", Business and Economic History, Cambridge University Press, 20: 216–225, JSTOR 23702819
  3. ↑ Imre Lengyel (April 1994), "The Hungarian Banking System in Transition", GeoJournal, 32 (4): 381–391, JSTOR 41146180
  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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