Top Banks in Hungary
An overview of Hungary's leading financial institutions
An overview of Hungary's leading financial institutions
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 Systems 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:
The outlook of Moody’s for Hungary’s banking system is positive, 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 is a helpful guide on where to start. To learn more, see our lists of financial institutions.
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 1,302 branches and employs around 27,000 staff.
As of 2016, total assets of the bank were US$44.66 billion and net profit was US$800 million.
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 conventional products: account management, investments, savings, loans, bank guarantees, bank card services, custody management, treasury, project financing, private banking services, etc., as well as investment fund management, leasing, securities trading, factoring, life and pension insurance.
Headquartered in Budapest, the bank maintains a 4,000-strong workforce and oversees a network of 207 branches.
As of 2016, the bank’s total assets amounted to US$11.31 billion and net profit reached US$167.56 million.
Established in 1819, Erste Bank offers a range of banking and other financial services to the retail and corporate customers in Austria, Central and Eastern Europe, and in other parts of the world. The bank’s operations comprise Retail, Corporates, Intragroup Elimination, Asset/Liability Management and Local Corporate Centre, Savings Banks, Group Markets, and Group Corporate Centre segments.
The bank operates through 2,648 branches in Austria, the Czech Republic, Slovakia, Romania, Hungary, Croatia, and Serbia. In 2016, it reported total assets of US$256 billion and a net profit of US$1557 million.
Budapest 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 operative equipment financing through its network of 94 branches. It currently employs around 3,000 staff.
As of 2016, the bank’s total assets were US$3.95 billion along with a net loss of US$47.36 million.
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.
As of 2016, the bank’s assets totaled US$6.43 billion and net profit amounted to US$47.23 million.
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.
In 2016, it posted total assets of US$8.304 billion and a net profit of US$37.51 million.
Raiffeisen Bank was founded in 1986 as Unicbank. The bank comprises Retail and Private, Corporate, Bank and Treasury, and Other segments. With around 2,400 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; and credit card loans, as well as loans provided against securities deposited as collateral. It also provides project and structured finance products, and syndicated loans; bank card facilities; and various investment services. In addition, it also offers investment products; cash management, online factoring, and legal and tax consultancy services; and payment, mobile banking, and Internet banking services.
As of 2016, total assets of the bank were US$7.88 billion and net profit was US$59.31 million.
Established in 1990, UniCredit Bank offers various banking products and services to small and medium-sized enterprises, private customers, and large corporates in Hungary. It operates through CIB, Retail, Private Banking, and Others segments. The bank serves 400,000 customers through a network of 55 branches. Based out of Budapest, it employs around 1,700 staff.
As of 2016, the bank’s total assets amounted to US$10.81 billion and net profit reached US$212 million.
Headquartered in Budapest, FHB Bank is the largest mortgage re-financer in Hungary. The bank comprises Retail, Corporate, Investment Services, Treasury, Refinancing, and Other segments. Incorporated in 1997, there are around 1,000 employees in the company’s workforce.
In 2016, the bank reported total assets of US$2.34 billion and a net loss of US$61.24 million.
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 lease, and real estate investment services for corporates and institutions.
Based out of Budapest, BNP Paribas became the sole shareholder in BNP Paribas, Hungary Branch, in 2001.
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This has been a guide to the top banks in Hungary. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: