Building Profit from Losses: K&H and ABN AMRO

Krisztina Tóth
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Krisztina Tóth: Corvinus University of Budapest

Chapter 12 in Acquisition Strategies in European Emerging Markets, 2007, pp 161-175 from Palgrave Macmillan

Abstract: Abstract In 1999, the Hungarian banking industry had around 40 market players, a large number for the relatively small market. The consolidation of the industry began at the end of the 1990s with the merger of Kereskedelmi és Hitelbank Rt. (K&H) and ABN Amro (Magyar) Bank Rt., which was one of the first significant transactions in this sector. The importance of this merger is highlighted by the fact that the fusion was not the usual consequence of an international merger of two foreign banks, but focused only on the Hungarian subsidiaries. This horizontal merger of the banks was a friendly transaction that was set up through the agreement of the management and owners of both parties. The merger was announced in 2000 and, by the end of 2002, the integration was almost completed. This integration period is the subject of this case-study (I do not discuss the embezzlement scandal which broke in 2003 and its implications on market performance).

Keywords: Total Asset; Integration Process; Parent Company; Equity Capital; Horizontal Merger (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28654-2_12

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DOI: 10.1057/9780230286542_12

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