Fewer people employed at banks

Initiatives

The number of people working in Hungarian banks and credit institutions fell by a further 500 or 1.3%, to just over 38,000, in the year ending in September, Hungarian business daily Világgazdaság reported on Friday, citing data from the National Bank of Hungary (MNB). In the last five years, total headcount in the sector is said to be down by 2,000 employees.

The segment struck by redundancy the most is savings cooperatives, which is under reorganization and tighter government control. The number of savings cooperatives employees fell 580 this year alone, to under 7,000. 

Large banks operating in Hungary jointly employed approximately 25,200 people in Q3, down 560 from the end of last year. Headcount in the segment dropped 6.5% from five years earlier, the paper said.

At the same time, headcount increased steadily at small and medium-sized banks and specialized credit institutions.

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