The Hungarian Industrial & Commercial Bank (Hungarian: Magyar Ipar-és Kereskedelmi Bank) was a significant albeit short-lived Hungarian bank with head office in Budapest. It was created in 1890 with sponsorship from Wiener Bankverein and additional participation by Deutsche Bank.[1]: 43 It appointed István Tisza as its president, a position the future statesman kept until 1901.[2] Count Gyula Andrássy the Younger and German financier Eugen Gutmann were among its high-profile board members.[3]: 222
Under Tisza's direction, the bank expanded rapidly but became overstretched, collapsing into bankruptcy in 1902 in part because of ill-timed investments in the Romanian petroleum industry.[1]: 67-68
See also
editNotes
edit- ^ a b Bela Tomka (2000), A magyarországi pénzintézetek rövid története, 1836-1947 (PDF), Budapest: Aula Kiadó
- ^ "Tisza István, 1897-től gróf (1861-1918)". Magyar Elektronikus Könyvtár (MEK) - Hungarian Electronic Library.
- ^ Thomas Barcsay (1991), "Banking in Hungarian Economic Development, 1867-1919", Business and Economic History, 20, Cambridge University Press: 216–225, JSTOR 23702819
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