State-owned Hungarian Development Bank (MFB) is in talks to take over Hungary’s 12th largest financial institution. Talks about Takarekbank, a Hungarian savings cooperative are ongoing with the fourth biggest German financial institution, DZ Bank, which owns 37 percent of the saving bank’s shares. László Baranyay, CEO of MFB said that there are times when such measures need to be taken on a temporary basis. The Hungarian government is looking for ways to strengthen lending in order to kick-start growth in the economy.
