Bisnode anticipates realignment in business bank account market

Competition

Bisnode Business Information Group expects a significant realignment in the Hungarian business bank account market this year, due to unfavorable measures recently leveled at the banking system, the company reported in a press release today.

According to the information group, the growing number of companies that are closing for business may also affect the realignment of the bank account market.

The report noted that the Hungarian business bank account market is concentrated; only ten banks supervise 80% of all corporate bank accounts, while the remaining 20% is supervised by 200 banks.

OTP Bank, the largest Hungarian-owned bank owns 17% of all business bank accounts, placing the financial group first in the corporate bank account ranking system. Bisnode Hungary noted that OTPʼs leading position may change due to the merging of MKB and Budapest Bank. The unified banks are expected to supervise 16% of all business bank accounts.

K&H followed OTP in the ranking system, as it owns 11% of all business bank accounts.

Raiffeisen Bank has 8% of the share, however, this may increase in the future, in spite of the continuous liquidation of its bank branches.

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