Robust liquidity; Strengthened risk management supported by upgraded IT and Management Information Systems (MIS); Completed organizational restructuring and turnaround; and Solidarity among savings cooperative (SC) sector, which is underpinned by a protective scheme. Modest position in an increasingly competitive market; Loan and sector concentrations; Weak core capital; Low but improving profitability, which is highly sensitive to market risk; and Underdeveloped cohesion within SC sector. The ratings on Hungary-based Magyar TakarTksz÷vetkezeti Bank Rt. (Bank of Hungarian Savings Cooperatives Ltd.; TakarTkbank) are based on its relatively modest position in its core market; concentration risks; weak core capital; and low profitability, which is vulnerable to market risk in a volatile economic environment. The ratings also reflect the underdeveloped cohesion with its majority owners--the
