Kereskedeimi es Hitelbank is Hungary's third largest bank, with total assets of $2.5 billion (£1.5 billion). It is the second largest in terms of its share of the market with 154 branches. It holds around 11 per cent of the state's total deposits. K&H provides retail, commercial and investment banking services to commercial and private clients. It was established in 1987 when the Hungarian government created a two tier banking system and formed three new banks. The other two have already been privatised.
International financial institutions have aggressively targeted the Hungarian market since the government began privatising state companies in 1991. Groups such as ABN AMRO, GE Capital, and the Belgian insurer ABB are major shareholders in the sector.
In 1996, K&H reported gross income of $134.4 million (£79.4 million) and after tax profits of $18 million (£10.7 million).
The bank has a staff of around 3,000 people, an issue which the Irish Life Kredietbank has indicated it will have to reduce to improve its operating cost structure.
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