Banking sector - Diplomacy & Trade

Extra Financial Benefits for Erste Bank Hungary Staff

D&T — Tue, 13 Sep 2022 08:12:00 +0000

Erste Bank Hungary contributes to the financial health of its employees with extra financial benefits and an early pay rise. In September, all eligible employees of the financial institution also received EUR 350 from the Austrian parent bank. A press release by the company says that in view of the rising cost of living due […]

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Erste Bank Hungary to Acquire Commerzbank Hungary

D&T — Fri, 02 Sep 2022 08:16:00 +0000

Erste Bank has received regulatory approval to acquire the Hungarian subsidiary of Commerzbank. Migration preparations are already underway and the transaction is expected to be completed in the second half of 2022 with the integration of Commerzbank's Hungarian subsidiary, which will allow Erste to further expand its corporate business. According to a statement by Erste […]

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OTP Group Second Quarter Results Exceed Expectations

D&T — Thu, 11 Aug 2022 08:17:00 +0000

OTP Group achieved a better-than-expected consolidated adjusted profit after tax of HUF 162.128 billion in the second quarter, which was 83% higher than in the previous quarter and 26% higher than a year earlier. The analyst consensus for a quarterly consolidated adjusted profit after tax was HUF 136.541 billion, which implied a year-on-year increase of […]

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Daily Support for Corporate Clients

D&T — Tue, 02 Aug 2022 07:42:00 +0000

CIB Bank, the Hungarian subsidiary of the several-centuries-old Italian international banking group Intesa Sanpaolo, offers tailor-made solutions and a state-of-the-art digital service portfolio to its clients all over Hungary. As the Chairman and CEO at CIB Bank, Pál Simák notes to Diplomacy&Trade, “centuries of successful operations are only achievable if you stick to universal values […]

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Banks Anticipate Tightening Conditions, Slowing Demand

D&T — Fri, 06 May 2022 17:21:00 +0000

According to the responses to the Lending Survey conducted by the National Bank of Hungary (MNB), credit conditions and credit demand were broadly unchanged in the corporate credit market in the first quarter of 2022. Looking ahead, around a quarter of the banks plan to tighten lending conditions due to the economic prospects that are […]

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Erste Hungary International Bonds Oversubscribed

D&T — Wed, 02 Feb 2022 13:59:00 +0000

Erste Bank Hungary has completed the first international bond auction in its history, issuing EUR 350 million worth of securities with a significant oversubscription of more than 40%, the financial institution informed the state news agency MTI on Wednesday. The statement said that the bonds, with a fixed interest rate of 1.25% per annum and […]

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Hungary's OTP Bank Buys Another Bank in Albania

D&T — Mon, 06 Dec 2021 10:56:00 +0000

OTP Bank Plc. has announced that OTP Bank signed an acquisition agreement with Alpha International Holdings Single Member S.A. on purchasing 100% shareholding ofAlpha Bank SH.A., the Albanian subsidiary of the Greek Alpha Bank S.A. The purchase price has been agreed at Euro 55 million. With a total asset-based market share of almost 5% in […]

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Fruitful First Quarter at Erste Bank Hungary

D&T — Wed, 05 May 2021 12:54:00 +0000

Erste Bank Hungary closed the first quarter of this year with a profit after tax of HUF 15.1 billion. Operating income was 24.1% higher than in the same period of the previous year, while expenses increased by a much lower 6.3 %. Lending growth in both the retail and corporate segments slowed compared to last […]

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Green Recommendations by the National Bank of Hungary

D&T — Sat, 24 Apr 2021 11:23:00 +0000

The National Bank of Hungary (MNB) has published its new supervisory recommendation for credit institutions on climate-related and environmental risks. The aim of the recommendation is to raise awareness among Hungarian banks and to improve their preparedness for climate-related and environmental risks as well as for the related new regulatory challenges. The document, applicable from […]

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OTP Sells Slovakian Subsidiary to KBC

D&T — Fri, 27 Nov 2020 08:11:57 +0000

Hungary's largest commercial financial institution, OTP Bank has announced on the website of the Budapest Stock Exchange that the sale of its Slovakian subsidiary, OTP Banka Slovensko. has been financially completed. According to the announcement, the transaction, based on the share purchase agreement signed with KBC Bank NV on February 17, 2020, has been financially […]

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Hungarians Jump on Savings Bandwagon amid Pandemic

D&T — Fri, 20 Nov 2020 08:02:07 +0000

Hungarians demonstrated a strengthening inclination to set aside financial reserves amidst the coronavirus crisis. As a result, the financial assets of the population have increased by 5% since the end of last year despite many households witnessing a drop in disposable income. The most popular products in the savings market in the first three quarters […]

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COVID-19 Impact on CEE Region Banks

D&T — Wed, 16 Sep 2020 13:50:00 +0000

Fortunately, a strong banking sector in Central and Eastern Europe faced the constraints of the COVID-19 epidemic. However, there is a lot of uncertainty about the long-term outlook. The regional survey by the consulting firm Deloitte researched how financial institutions see their own future. “It has been several months since the start of the economic […]

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Takarék Mortgage Bank Outlines Strategy

D&T — Mon, 17 Aug 2020 16:29:00 +0000

In the context of the rolling revision of Takarék Group’s strategy in 2020 the priorities of the Group remain the deepening of synergies between the entities of the Integration, continued improvements in the cooperation between members and in the Group’s competitiveness in general, the bank says on the website of the Budapest Stock Exchange. At […]

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MNB Financial Stability Report, May 2020

D&T — Sun, 24 May 2020 17:19:25 +0000

Leaving behind the legacy of the 2007-2008 crisis, the Hungarian banking system is prepared to face the challenges likely to result from the COVID-19 pandemic with healthy balance sheets and adequate capital and liquidity reserves. That is according to the latest financial report by the National Bank of Hungary (MNB). The report states that "based […]

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Hungarian Banking Association Elects New President

D&T — Fri, 22 May 2020 12:07:34 +0000

The Hungarian Banking Association has elected as its new President Radován Jelasity, Chairman and CEO of Erste Bank Hungary. The previous President, András Becsei will stay in the leadership of the association as Vice President. Radován Jelasity has been Chairman and CEO of Erste Bank Hungary since June 1, 2011. He is a recognized banker, […]

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