MoU between MBH Bank and Local Bank of China Branch

MBH Bank and the Hungarian Branch of Bank of China Limited have signed a Memorandum of Understanding to establish a long-term, stable and mutually beneficial business relationship, MBH told MTI on Thursday.

The MoU aims to strengthen inter-bank activities, especially in the field of bilateral financing arrangements, and to promote trade in financial products through mutually opening market opportunities.

The parties are committed to opening the door to a wider range of financial services for their respective customer bases and to exploring areas where their joint resources can create new business opportunities.

The signing of the MoU took place at MBH Bank's headquarters in Budapest and was attended by Mr. Ádám Egerszegi, MBH Bank Board Member and Deputy CEO for Digitalization and Operations, Levente Szabó, MBH Bank Board Member and Deputy CEO for Customized Service, Lin Jingzhen, Executive Vice President of Bank of China Limited, Mr. Liu Jiandong, President Designate of Bank of China (Europe) SA, Luxembourg, and other senior executives of Bank of China.

Bank of China is China's most globalized and integrated bank, with institutions in 64 countries and regions in addition to China, and subsidiaries doing business in the Central and Eastern European region.

MBH Bank is one of Hungary's leading credit institutions, serving nearly two and a half million retail and corporate customers. Its total assets exceed HUF 11,727 billion. Deposits with the bank amount to more than HUF 7,626 billion, while gross loans exceed HUF 5,816 billion.

Bank of China Limited's Hungary Branch was established in April 2014 as a branch in Budapest with the official legal authority of the Beijing headquarters. Its activities focus on a wide range of core banking products, including deposit management, transaction management, lending and credit management, trade finance, international finance and treasury services.