Eximbank to expand throughout Hungary

Int’l Relations

Eximbank, Hungary's state-owned export-import bank, is planning to set up a branch network throughout Hungary, Péter Szijjártó, state secretary for foreign trade and investment, informed Hungarian news agency MTI.

he bank is expected to open its first country branch in Györ, 120 km west of Budapest. Other offices are planned in Debrecen, Miskolc, Szeged, Kecskemét and Nagykanizsa.

Eximbank wants to be closer to local small and medium-sized companies (SMEs) and help them find financial solutions. About 9,000 SMEs account for one-fourth of Hungarian exports and three-fourth of those companies are Hungarian, stressed Szijjártó.

Letting SMEs play a greater role in exports will help us make the country less dependent on EU market developments, added the State secretary.

Hungary trades mostly with the European Union  –  80 % of its exports go to EU member states, who provide for 71 % of Hungarian imports.

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