Cofidis to open first Hungarian branch

Awards

The French Cofidis Bank is set to open its first Hungarian branch in Budapest after Hungarian market regulator PSzÁF recently issued the bank's operating license authorizing it to offer credit, cash flow and cashless services, business daily Napi Gazdaság reported. Cofidis is the third foreign-owned bank to set up in Hungary this year after Germany's Dresdner and the Belgian Fortis. According to Napi Gazdaság, opening branches in Hungary have been largely unpopular with foreign banks because of double taxation used by Hungary despite existing OECD directives allowing countries to avoid this.

ADVERTISEMENT

Differences in taxation in the CEE region Analysis

Differences in taxation in the CEE region

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest Mayor Karácsony signs Global Declaration for Democr... City

Budapest Mayor Karácsony signs Global Declaration for Democr...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.