The Bank of Hungarian Savings Co-operatives (currently known in Hungarian as Magyar Takarékszövetkezeti Bank Zrt) was founded on 18 April 1989 by savings cooperatives with an authorized capital of HUF 1 035 million. The purpose of the founders was to provide their customers with services that, according to applicable laws, they themselves could not provide because of their limited size. The savings cooperatives identify the mission of the bank as follows: to develop a uniform market presence, to strengthen their competitive positions and to facilitate the expansion of their operations.
In its position as the central bank of the sector of Hungarian savings cooperatives, Magyar Takarékszövetkezeti Bank Zrt strives to strengthen the market position of savings cooperatives by offering them products and services with competitive conditions.
As a central bank, its main function is to provide savings cooperatives with products and services, and to coordinate their business development in accordance with the framework laid down int he Business Cooperation Contracts.
As a commercial bank, it accepts the principle of subsidiarity, according to which the bank provides services to key customer groups only if the savings cooperatives do not have the possibility, adequate skills or size to provide a given service. The bank serves its clientele of municipalities in cooperation with the savings cooperatives; corporate customers are offered services only above a certain company size.
As an investment bank, it complements the product range of savings cooperatives and mediates between the savings cooperatives and the capital markets. The bank provides comprehensive investment services directly or through agents to private and institutional customers and grants access to international securities markets.
For more details, visit www.takarekbank.hu
All your investments in one place - at TakarékInvest
TakarékInvest is an umbrella term for the investment services provided by Takarékbank and by savings cooperatives. It was created to enable customers to access a wide range of investment services and traditional banking services under one roof. TakarékInvest focuses on its own investment products, covering both well-known financial schemes and products that are different from the usual offers available on the Hungarian market.
Through our unique and innovative products, we strive to enable our customers to choose the investment most suited to them from an ever-growing portfolio. Our products are all backed by the convenience offered by savings cooperatives and by Takarékbank through their experience, secure operation and extensive branch network.
Our website gives you a detailed overview of the benefits of TakarékInvest: you can invest easily in domestic government securities, you can trade on the Budapest Stock Exchange or with shares floated on the Deutsche Börse, you can conclude futures and option deals and you have the possibility of managing your FX-deals via the internet. Our portfolio extends to all kinds of products, ranging from open-ended investment funds to structured bonds pegged to the share prices of major international corporations.
Should you have any questions, do not hesitate to contact us at the contact details of Takarékbank or at the designated branches of savings cooperatives.
For more information, visit: www.takarekinvest.hu
Takarék Alapkezelő Zrt (Fund Manager)
In order to meet the constantly growing demand for investment funds, TakarékBank founded its own fund manager company in February 2007. Operating under the name Takarék Alapkezelő Zrt, its primary goal is to provide HUF-based investment facilities to retail customers.
In order to secure our presence on the EUR-based market and to adopt the necessary expertise, we have entered into an exclusive cooperation agreement with Union Investment.
In August 2007 we took over the Takarék Government Securities Fund, which aims at outperforming the yields of deposit placement plans with a term longer than six months.
For the sake of diversifying our portfolio of investment products, we have decided to launch two new funds as well (TakarékInvest Hungarian Mixed Investment Fund and TakarékInvest Central-Eastern European Fund of Equity Funds).
For more information, visit: www.takarekalapkezelo.hu
Fundamenta-Lakáskassza Lakás-takarékpénztár Zrt (building society)
Fundamenta German-Hungarian Building Society commenced its operations on 15 May 1997. It was founded by Bausparkasse Schwäbisch Hall AG, a building society with the largest clientele and market share in Germany, and by Magyar Takarékszövetkezeti Bank, the central bank of savings cooperatives.
The company has been operating in its present form since 1 July 2003, when it became a private limited company under the name Fundamenta-Lakáskassza Lakás-takarékpénztár Zrt, following the merger of Fundamenta Rt and Lakáskassza-Wüstenrot Rt.
The company’s activities comprise contract-based deposit collection, lending and the provision of bridging loans associated with the relevant contract.
As a result of the cooperation agreement between Fundamenta Zrt and the Takarékpont-affiliated savings cooperatives, the latter institutions distribute the savings-related products of Fundamenta and provide loans with these products instantly.
Budapest Stock Exchange
As the official trading platform for publicly issued securities, the Budapest Stock Exchange Ltd is a key player on the Hungarian capital market. It offers a wide range of investment options for both domestic and international investors, private and institutional ones alike.
KELER offers "quasi-wholesale" services and provides infrastructure for players and intermediaries present on the Hungarian capital market. Its direct partners are investment service providers, brokerage companies, banks and entities issuing securities. The clearing house allows the securities transactions of market players (i.e. the exchange of funds and securities) to be settled in a quick, efficient and risk-free manner.