Report: Bank branch numbers fall 23% in Hungary
The number of bank branches operating in Hungary fell 23% in the period of 2008-2015, Hungarian daily Népszabadság reported today based on data from the National Bank of Hungary (MNB).
Raiffeisen cut the number of its branches by 58%, Unicredit by 51%, CIB 46%, Sberbank by 39%, while Erste closed one-third of its branches in the country, according to Népszabadság’s report. Népszabadság noted that the only bank to add branches in the period was FHB.
The most branches in the country are owned by Hungarian OTP (375), followed by Erste (210) and Budapest Bank (128), the paper said.
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.