Hungary's MBH Bank buys Otthon Centrum
MBH Bank is acquiring OC Magyarország Holding Kft., the parent company of the Otthon Centrum group's domestic subsidiaries, from Biggeorge Holding.
MBH Bank plans to continue operating with the current management and multi-agent financial intermediary model.
The closing of the multi-stage transaction, which was announced on the Budapest Stock Exchange, is subject to approval by the Hungarian Competition Authority GVH. The Polish subsidiary is unaffected by the transaction.
The Otthon Centrum group has
- over 200 offices;
- almost 1,400 real estate agents; and
- 500 financial advisers nationwide.
Its four networks — Otthon Centrum, Open House, Rockhome and Benks — primarily deal with real estate and financial brokerage, as well as related services such as property valuation, energy certificates and home insurance.
Otthon Centrum is part of Biggeorge Holding. In 2022, the network acquired a majority stake in Open House, a real estate and credit brokerage company. This was followed by the acquisition of the Polish company Freedom in 2023, and the Polish Investor Group.
"By acquiring the holding company that unites the domestic subsidiaries of the Otthon Centrum Group, we can offer our customers a comprehensive service package to help them achieve their home-building goals. We are also taking a huge step towards strengthening our market share and
achieving market leadership
in the strategically important mortgage lending segment," said Zsolt Barna, Chairman and CEO of MBH Bank Nyrt, in the announcement.
The real estate brokerage and financial intermediation operations of Otthon Centrum Group will help MBH Bank establish a comprehensive real estate financing value chain. Currently, financial services related to real estate transactions are largely provided to customers through intermediaries. The combined performance of Fundamenta and Otthon Centrum could further increase the banking group's market share.
The transaction will contribute to the further development of the Otthon Centrum Group, enabling it to expand significantly in the future thanks to MBH Bank's stable banking background. The banking group's market position will enable it to provide a wider customer base and growing sales revenue for the four franchise and agent networks.
In the coming years, I will continue to be actively involved as an owner in order to support the next phase of development and contribute to the continued success of Otthon Centrum,
added Tibor Nagygyörgy, owner of Biggeorge Holding and founder of Otthon Centrum.
MBH Bank will continue to operate with its current management team and multi-agent financial intermediary model. Alongside our cooperation with the bank, we will also pay attention to OC's other banking partners.
It is a great opportunity for us that from now on, a banking group with enormous capital strength and a large customer base will support us in ensuring customer satisfaction and building an even stronger Otthon Centrum group, relying on our solid foundations and excellent team of professionals, with unique products and an even wider range of services,
the statement cited György Kosztolánczy, Chief Executive Officer of Otthon Centrum Holding.
Cover photo: Shannon Fagan via Getty Images
