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Banks to open 300 new branches in Hungary

Hungary's banks have opened 60 new branches in 2005, and are planning to establish nearly 300 more in the next two or three years, business daily Világgazdaság reported. The paper said that approximately Ft 30 billion forints (€120 million) would be spent on developing the banking sector, which now had a total of 1,300 branches in the country. The paper asked, however, if a 20% development was economically viable, and how it would impact the price of banking services.