CIB Bank
Encyclopedia
CIB Bank is the second-biggest commercial bank
in Hungary
, after the January 1, 2008 merger with Inter-Európa Bank. This follows the 2007 merger of their respective Italian parent companies, Banca Intesa
and Sanpaolo IMI
to form Intesa Sanpaolo
.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
, after the January 1, 2008 merger with Inter-Európa Bank. This follows the 2007 merger of their respective Italian parent companies, Banca Intesa
Banca Intesa
Banca Intesa S.p.A. was formed in 1998 from the merger of Cassa di Risparmio delle Provincie Lombarde and Banco Ambroveneto...
and Sanpaolo IMI
Sanpaolo IMI
The Gruppo Sanpaolo IMI was one of Italy's major banking and insurance groups, based in Turin. It employed about 44,000 people and had about 7 million customers....
to form Intesa Sanpaolo
Intesa Sanpaolo
Intesa Sanpaolo is a banking group resulting from the merger between Banca Intesa and Sanpaolo IMI based in Turin, Italy. It has clear leadership in the Italian market and a minor but growing international presence focused on Central-Eastern Europe, the Middle East and North Africa Intesa Sanpaolo...
.