Both the deal and this latest merger are inline with Morabanc's strategic plan, announced last November, whose main objective is to place clients' service at the centre of the business, the bank said.
Nevertheless, as the bank had a wide-ranging and well-functioning international network, the KGB frequently used it as a cover organisation.
And if the Europeans are now concerned about the Russian bank, so are the Americans, especially since the Trump administration has cultivated Hungary’s prime minister, Viktor Orban, as an ally.
Fossil fuel divestment has gathered pace over the past few years as pension funds, sovereign wealth funds and universities have sold oil, gas and coal stocks, especially after the 195-nation global climate agreement signed in Paris set a goal in 2015 of p
The combination of the two banks mean that Deutsche, currently fifth biggest, and Commerzbank, currently 23rd, will become Europe’s second biggest bank and only marginally behind HSBC.