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Building Profit from Losses: K&H and ABN AMRO

In: Acquisition Strategies in European Emerging Markets

Author

Listed:
  • Krisztina Tóth

    (Corvinus University of Budapest)

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).

Suggested Citation

  • Krisztina Tóth, 2007. "Building Profit from Losses: K&H and ABN AMRO," Palgrave Macmillan Books, in: Klaus E. Meyer & Saul Estrin (ed.), Acquisition Strategies in European Emerging Markets, chapter 12, pages 161-175, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28654-2_12
    DOI: 10.1057/9780230286542_12
    as

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