One of the main tasks of the fund is to reimburse insured deposits in case the deposits are frozen in a member institution. Since HUF 6 million is the upper limit of the reimbursement (principal and interest, together) primarily small depositors enjoy the benefits of the deposit insurance scheme. In Hungary, Act XXIV of 1993 on the establishment and operating regulations of the National Deposit Insurance Fund of Hungary was passed by Parliament on March 31, 1993. At the same time the fund was registered as a legal entity and started operation on July 1, 1993. The principles of the Deposit Insurance Act have been laid down in accordance with the relevant guidelines of the European Union.
K&H Bank is one of the largest banks in Hungary, the leader of the corporate banking market and the second strongest bank in the retail segment. As a Universal Banking Group, it offers its retail and corporate partners a full range of financial services through a network of 160 branch offices, various business lines, and subsidiaries. Having successfully launched its bankassurance concept on the Belgian market, K&H Bank’s majority shareholder KBC Bank and Insurance regards this area as a strategic issue for its subsidiaries in its second home, Central Europe. As the country’s second largest retail bank, K&H Bank manages the daily finances of almost half a million private individuals. In addition to conventional products, (e.g. account management, bank transfers, public utility debits, term deposits, housing and personal loans) a number of novel services are offered.
Raiffeisen Bank Zrt. was established as Unicbank in December 1986, concurrently with the establishment of the two-tier banking system in Hungary. Raiffeisen Bank became a universal bank, providing wholesale financial services to its corporate customers, local governments and public utilities, as well as private banking services for high-net-worth individuals seeking differentiated banking relations. For private customers, the consumer banking division offers flexible, tailor-made products combined with multiple access and a high level of customer service. Raiffeisen Bank maintains an extensive and rapidly developing branch network in Hungary, and also offers state-of-the-art alternative sales and communication channels.
UniCredit Bank Hungary Zrt. is a member of UniCredit Group operating the largest international banking network in Central and Estern Europe with more than 3,000 offices, 65 000 emloyees and serving 24 million customers. In Hungary UniCredit Bank as a successor of HVB Bank offers services both to retail customers and enterprises – from self-employed and small enterprises to medium-sized and large corporates. It offers a full range of state of the art banking products and services – from bankaccounts to leasing, from asset managament to investment banking services, from diverse credits and loans to factoring – as a “one-stop-shop”.
With a more than 30-year history of presence, ingenuity and leadership in Hungary, today, Citi Hungary operates as a unique global bank providing a wide range of world-class products and services to large local corporations, SMEs, multinational clients, financial institutions and the public sector. In our Citi Service Center Budapest, established in 2005, 1,700 employees provide services in various areas of Technology, Operations, Finance, and Risk & Control for Citi-entities.
OTP Bank Plc. is the largest bank among Hungarian credit institutions and the dominant player in each segment of the Hungarian banking market at the same time. Retail banking: Account management, bankcards, electronic sevices using telephone, mobile phone or Internet. Corporate banking: accounting and managing transactions for various business organizations, private entrepreneurs and for public organizations, owner occupied blocks, home co-operatives and other organizations. Private banking: HUF and FX account management, investment and fund management, loan facilities.