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Number of Bank Branches Continues Decline

Banking

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The number of domestic bank branches had decreased to 1,445 by September, which is less than half of the 2013 peak, the National Bank of Hungary (MNB) said in an announcement on its website.

It is unlikely that the number of branches will increase again thanks to the spread of online banking, MNB noted.

In the first nine months of the year, 65 bank branches were closed across the country, which also indicates that the decrease in the number of physical deposits is slowing down, as 322 branches were closed last year, while MBH Bank was established in May of this year, after last year's merger of MKB Bank and Budapest Bank Takarékbank.

 Last year, however, several branches may have closed due to the merger.

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