The Magyar Nemzeti Bank is the central bank of the Republic of Hungary. Founded in 1924, the body is responsible for promoting the stability of the country’s financial system and overseeing banks in Hungary. The Hungarian central bank is also a member of the European System of Central Banks, focusing on international relations and its participation in the professional forums of international economic institutions and financial organizations (EU, IMF, OECD, BIS).
The different types of banks in Hungary include:
Branch offices of foreign banks
The 2021 outlook of Moody’s for Hungary’s banking system is stable, as the rating agency believes that the country’s improving economy will boost the loan quality of local banks and support moderate profitability, as capital buffers remain stable.
For anyone considering a banking career in Hungary, this list of top banks in Hungary is a helpful guide on where to start. To learn more, see our lists of financial institutions.
The Top Banks in Hungary Include:
OTP Bank, formerly National Saving Bank, was established in 1949. The bank offers commercial banking services in Hungary, Bulgaria, Russia, Ukraine, Croatia, Romania, Slovakia, Serbia, and Montenegro. It provides currency exchange, private banking, insurance, personal and mortgage loans, and internet banking services.
Based out of Budapest, the bank manages a network of 1,530 branches and employs around 33,000 staff.
Net income: HUF 259.6 billion (2020)
Total assets: HUF 24.3 trillion (3/2021)
Kereskedelmi és Hitelbank Zártköruen Muködo Részvénytársaság, also known as K&H Bank, was founded in 1987. The financial institution provides various banking products and services to retail, private, and corporate clients in Hungary. It offers a full range of financial products, including account management, investments, savings, loans, bank guarantees, bank card services, custody management, treasury, project financing, private banking services, as well as investment fund management, leasing, securities trading, factoring, and life and pension insurance.
Headquartered in Budapest, the bank maintains a 4,000-strong workforce and oversees a network of 204 branches.
Net income: HUF 42.14 billion (2020)
Total assets: HUF 4.38 trillion (2020)
Established in 1819, one of the oldest banks in Hungary, Erste Bank offers a range of banking and other financial services to retail and corporate customers in Austria, Central and Eastern Europe, and other parts of the world. The bank’s operations comprise Retail, Corporates, Intragroup Elimination, Asset/Liability Management, Local Corporate Centre, Savings Banks, Group Markets, and Group Corporate Centre segments.
Net income: HUF 22.95 billion (2020)
Total assets: HUF 3.70 trillion (2020)
Budapest Hitel Bank
Budapest Hitel Bank was incorporated in 1987. The bank serves private individuals, business organizations, and corporate customers in Hungary. It offers credit and leasing facilities for the purchase of new and second-hand cars, and equipment financing through its network of 94 branches. It currently employs around 3,000 staff.
Net income: HUF 11.57 billion (2019)
Total assets: HUF 1.53 trillion (2019)
Founded in 1979, CIB Bank provides retail and corporate banking services to companies, institutions, municipalities, private entrepreneurs, and retail customers in Hungary and other countries. With around 2,000 staff, the bank is headquartered in Budapest.
Net income: HUF 7.39 billion (2020)
Total assets: HUF 2.41 trillion (2020)
Headquartered in Budapest City, MKB Bank was established in 1950. The bank operates through Corporate Banking and Institutional Banking segments and employs around 2,000 individuals.
Net income: HUF 8.42 billion (2020)
Total assets: HUF 2.78 trillion (2020)
Raiffeisen Bank was founded in 1986 as Unicbank. The bank comprises Retail and Private, Corporate, Bank and Treasury, and Other segments. With around 2,500 employees, it is headquartered in Budapest.
The bank serves individuals, corporations, governments, local municipalities, social institutions, and residual items. It offers lending and deposit-taking services, credit card loans, as well as loans provided against securities deposited as collateral. It also provides project and structured finance products, syndicated loans, bank card facilities, and various investment services. In addition, it also offers investment products, cash management, online factoring, legal and tax consultancy services, and payment, mobile banking, and Internet banking services.
Net income: HUF 12.94 billion (2020)
Total assets: HUF 3.20 trillion (2020)
Established in 1990, UniCredit Bank offers various banking products and services to small and medium-sized enterprises, private customers, and large corporations in Hungary. It operates through CIB, Retail, Private Banking, and Other segments. The bank serves 400,000 customers through a network of 55 branches. Based out of Budapest, it employs around 1,700 staff.
Net income: HUF 51.27 billion (2019)
Total assets: HUF 3.38 trillion (2019)
BNP Paribas Bank
Founded in 1990, BNP Paribas Bank is one of the first joint-venture banks in Hungary. The bank offers institutional and corporate banking, securities, asset management, insurance, real estate, vehicle management, financial and operating leases, and real estate investment services for corporations and institutions.
Based out of Budapest, BNP Paribas became the sole shareholder in BNP Paribas, Hungary Branch, in 2001.