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 

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Notes

  1. 1 2 Bela Tomka (2000), A magyarországi pénzintézetek rövid története, 1836-1947 (PDF), Budapest: Aula Kiadó
  2. ↑ "Tisza István, 1897-től gróf (1861-1918)". Magyar Elektronikus Könyvtár (MEK) - Hungarian Electronic Library.
  3. ↑ Thomas Barcsay (1991), "Banking in Hungarian Economic Development, 1867-1919", Business and Economic History, Cambridge University Press, 20: 216–225, JSTOR 23702819


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