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Third Quarter Profit at Erste Bank Hungary

D&T
Nov 5, 2020

In the third quarter of this year, the Erste Bank Hungary made a profit. There was no need to make as many provisions, revenues also increased, for example, housing loans sold much better than expected, the news site napi.hu reports, Erste Bank's first nine months' results show the impact of the coronavirus epidemic. Between January […]

KDBE, the Faithful Business Partner

Sándor Laczkó
Oct 8, 2020

KDB Bank Europe Ltd. (KDBE), a subsidiary of the South Korean Korea Development Bank, has been present on the Hungarian financial market since 1990. KDBEPresident&CEO, Min In Hwan tells Diplomacy&Trade how the bank developed over these three decades and theservices it offers its clients today. Explaining how many of the bank’s original objectives have been […]

Renewed 1

Upgraded Hungarian banknote

D&T
Feb 28, 2018

Upgraded 1,000-forint banknote denominations can appear in cash payments in Hungary from March 1, 2018. In addition to their renewed appearance, the banknotes have been brought up-to-date with regards their security features.

Bitcoin ATM in Mosonmagyaróvár

Hungary's first bitcoin ATM outside Budapest

D&T
Nov 15, 2017

Following the successful operation of its first ATM in Hungary with the possibility of Bitcoin transactions (in Budapest), the Hungarian firm Shinrai Ltd. put into operation another such machine in Mosonmagyaróvár, NW hungary, close to the Austrian and Slovak borders.

Marco Iannaccone

Leave your mark!

D&T
Nov 2, 2017

UniCredit Bank Hungary had a very successful year in 2016. As the Deputy CEO of the bank and Member of the Management Board, Marco Iannaccone explains, this profitable result has made it possible for the bank to extend its support activities to new areas.

An MFB branch in Budapest | source: GoogleMaps

More MFB info points

D&T
Aug 11, 2017

Lending is gaining more and more importance as the pace of economic growth is accelerating, Minister for National Economy Mihály Varga said at the opening of a Hungarian Development Bank (MFB) info point at an OTP Bank branch in the third district of Budapest.

Vojvodjanska Banka branch in Panèevo

Hungary's OTP buys bank in Serbia

D&T
Aug 4, 2017

The Serbian unit of the largest Hungarian Bank OTP has bought the Serbian Vojvodjanska Banka from the National Bank of Greece for EUR 125 million. The deal also includes other Serbian units of the National Bank of Greece.

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EBRD-Hungary working group

D&T
Mar 20, 2017

The European Bank for Reconstruction and Development (EBRD) and the Hungarian authorities have agreed to set up a working group to analyse the impact on the banking sector of the recent amendment of the Judicial Enforcement Act.

Splitska Banka in Split

Hungary's OTP buys bank in Croatia

D&T
Dec 21, 2016

OTP Bank Plc. has announced that its Croatian subsidiary OTP banka Hrvatska, signed an acquisition agreement on purchasing 100% shareholding of Splitska Banka, member of Société Générale Group, portfolio.hu reports.

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EBRD to buy stake in Hungarian bank

D&T
May 4, 2016

The European Bank for Reconstruction and Development's (EBRD) Board of Directors has approved taking a 15% stake in the Hungarian unit of Erste Group Bank, an EBRD spokesman is quoted by portfolio.hu as saying this Wednesday.

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Erste buys Citibank consumer division in Hungary

D&T
Sep 2, 2015

As expected, Erste Group is going to acquire the consumer business (retail banking and cards business) of Citibank Europe Plc. in Hungary. The transaction is subject to regulatory approvals, which are expected by the end of 2015, portfolio.hu reports.

Alexandre (Sándor) Lámfalussy | source: hirado.hu

The Hungarian 'father of the euro' passes away

D&T
May 11, 2015

Alexandre Lámfalussy, the Hungarian-born economist and banker known as one of the fathers of the common European currency, the Euro, and the head of the predecessor of the the European Central Bank, passed away less than a month after his 86th birthday.

An Erste Bank branch in Budapest | Tamás Kovács / MTI

Hungarian government to buy into Erste Bank

D&T
Feb 9, 2015

Hungarian Prime Minister Viktor Orbán has announced that his government and the European Bank for Reconstruction and Development (EBRD) will seek to acquire 15-percent stakes in the Hungarian affiliate of Austria's Erste Bank.

The Bank of China vicep president

Bank of China opens regional center in Budapest

D&T
Dec 19, 2014

The Bank of China has opened its new Central and Eastern European regional center in Budapest. The bank has had a branch office in Budapest since 2003, serving small and medium size enterprises (SME) sector as well as private individuals.

Citibank ATM in Hungary | source: Citibank

Citigroup to sell consumer business in Hungary

D&T
Oct 14, 2014

Along with the publishing of its third-quarter earnings report this September, Citigroup also announced its intention to exit its consumer businesses in 11 markets, including Hungary. The sale the units is to be completed in 2015.

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