Hungarian Discount and Exchange Bank
The Hungarian Discount and Exchange Bank (Hungarian: Magyar Leszámítoló és Pénzváltó Bank, MLPB, occasionally referred to simply as "Discount Bank") was a significant Hungarian bank, established in Budapest in 1869. It was nationalized in 1947–1949, together with the rest of the Hungarian banking sector.[2]
Overview
The MLPB was originally established as a Hungarian affiliate by the
By 1913, it was the fifth-largest commercial bank in Hungary by total assets, behind the Hungarian Commercial Bank of Pest, the First National Savings Bank of Pest, the Hungarian Mortgage Credit Bank, and the Hungarian General Credit Bank.[3]: 219 It remained among the country's leading banks during the interwar period,[4]: 192 when it came under the control of Austria's then French-controlled Länderbank.[5]: 35
Miksa Madarassy-Beck was the bank's director in the late 19th century, while his brother Nándor Madarassy-Beck led the Hungarian Mortgage Credit Bank. Miksa's son Marcell Madarassy-Beck would also lead the bank in the interwar period, bohiernment and murder at the Mauthausen concentration camp in 1944.
See also
Notes
- ^ Economic Conditions in Hungary, Great Britain Department of Overseas Trade, 1921, p. 46
- S2CID 150554109
- ^ JSTOR 23702819
- ^ János Botos (October 2017), "The Hungarian banking system from the trauma of Trianon to nationalization" (PDF), Economy and Finance, 4 (3), Budapest: Hungarian Banking Association
- ^ Federal Reserve Board (November 1943), Army Service Forces Manual M360-5 / Civil Affairs Handbook Austria - Section 5: Money and Banking, Washington DC: U.S. Army Service Forces