The History of the Takarékpénztár Palace

The Founding and the First Building (1845–1879)
1845 – The Founding: On the initiative of Gábor Klauzál, the Szeged-Csongrád Takarékpénztár was established as the city’s first true financial institution. It began operations in the Kárász House on Klauzál Square.

1864 – The First Headquarters: Seeking a permanent home, the financial institution purchased the lot at the corner of what is now Széchenyi Square and Takaréktár Street. The Takarékpénztár first building was constructed at that time based on plans by Károly Hoffer. Although considered beautiful, this building fell far short of today’s in terms of size and grandeur.

1879 – After the Flood: The Takarékpénztár played a major role in the reconstruction following the great flood of 1879 in Szeged. However, due to the land reclamation efforts after the flood, the lower level of the 1864 building had effectively “disappeared” below street level, making it no longer suitable for the function of the city’s most important bank.

The Construction of the Art Nouveau Palace (1903–1905)
Designer: The Szeged-Csongrád Takarékpénztár decided to commission a new, much more monumental headquarters. They commissioned one of the era’s most outstanding architects, Lipót Baumhorn (who designed several buildings in Szeged and is also known for designing numerous synagogues), to draw up the plans.

Architectural Style: The building was constructed in the Art Nouveau style and is one of the most outstanding examples of Art Nouveau in Szeged. Baumhorn’s style was influenced by the work of Ödön Lechner, but he also enriched it with Eastern, Renaissance, and Baroque elements.

Completion: Construction took place between 1903 and 1905, during which time the building acquired the imposing form we see today, and which is still commonly referred to as the Takarékpénztár Palace.

OTP (Hungarian Bank) Era and Renovations
Change of Function: In the second half of the 20th century, as the banking system underwent transformation, the building came under the ownership and use of the National Savings Bank (OTP), which had been established during the socialist era; as a result, it was commonly referred to simply as the “OTP Building” for a long time.

Facade Reconstruction (2009): After the fall of communism, the massive building also functioned as a condominium, but its condition gradually deteriorated. After long delays, the long-overdue reconstruction of the exterior facade finally began in 2009.

The work covered the entire facade, including the sides facing Széchenyi Square and Takaréktár Street.

The upper-floor balconies and decorative elements were restored to their original form.