Budapest banks play an important role in the economic policies of the city. They control the economic stability of the city. Beside that they also provide economic assistance to individuals as well as corporate houses.
The Budapest banks have played a great role in stabilizing the economy of Budapest and have brought about a boom in the financial sector. The banks of Budapest are extremely competent and have shown their worth by providing first-rated services in terms of mutual funds, credit cards, investment, debit cards, insurance policies and other financial issues. There are many banks in Budapest which are located in different parts of the country.
Some of the major Budapest banks are as follows:
Hungarian National Bank: This was the first central bank of Hungary which started its operations from June 24, 1924. The Hungarian national currency, Forint was introduced with the help of this bank. This bank has continuously made significant contributions towards the Hungarian financial market.
Budapest Bank: This is one of the most significant banking institutions of Budapest which had started its operation on January 1, 1987, when the two-tier banking system started in Hungary. In December 1995, major shares of the bank were acquired by the GE Capital Group.The bank however, continues to provide its wide-variety of services and
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has branches in Budapest and other provincial towns as well.
Citibank: Citibank was founded by the Citibank Overseas Investment Corporation on 11th December in 1985. This branch of Citibank followed its age old banking system to make the most of banking opportunities in Budapest.
CIB Bank: The Central-European International Bank or CIB Bank started its operation from 1 January, 1980 and has been providing quality financial services for the last 30 years. This bank recently merged with the Inter-Europa Bank. After the merger, the bank has emerged as the second largest private sector bank of Hungary with 140 banking units spread all over the country.
ING Bank: One of the most important and renowned private banking institutions of Budapest, ING bank offers mutual funds, insurance policies, corporate banking solutions, lease options and pension funds to all its corporate as well as individual clients.
Some of the other well-known banks in Budapest include:
HVB Bank
IC Bank Rt
KDB Bank Rt
Commerce and Credit Bank
Hungarian Foreign Trade Bank
Erste Bank
National Savings and Commercial Bank
Porsche Bank Hungarian Rt
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