MKB Bank Nyrt. and Budapest Bank Zrt. will merge on 31 March 2022 and will continue to carry out credit institution activities under the name MKB Bank Nyrt.
In respect of a deposit guarantee perspective, this means that if a depositor has a deposit in both banks (bank account, fixed-term deposit, etc.), then the compensation threshold of EUR 100-100 thousand for deposits placed in the two institutions will change.
Under the relevant legislation, for 3 months, i.e. until 30 June 2022, deposits in the two banks continue to be covered separately by deposit guarantee up to 100 thousand euros. However, taking into account the fact that we are talking about a single credit institution, after the expiry of the 3 months so-called transitional period, the compensation threshold will be changed to EUR 100 thousand per client regardless of the fact that the deposits were previously deposited in two banks.
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