Banks in Hungary are mainly focusedon the following areas:
Magyar Nemzeti Bank
Currently there are 50 credit institutions operating in Hungary.
In 2023 consolidated banking assets in Hungary were 216.73 bln EUR. The consolidated banking assets' evolution is shown at Chart 1 below.
Chart 1. Consolidated banking assets in Hungary.
Recent structural changes (2013 - 2022) of the banking sector of Hungary are summarised in Table 1.
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
| Opened Banks | 0 | 0 | 6 | 2 | 0 | 0 | 1 | 1 | 1 | 2 |
| Closed Banks | 0 | 0 | 52 | 34 | 31 | 9 | 17 | 4 | 0 | 2 |
| Change | 0 | 0 | -46 | -32 | -31 | -9 | -16 | -3 | +1 | 0 |
Table 1. Recent structural changes in the banking sector of Hungary.
The list of the most recently opened banks in Hungary is provided in Table 2.
| Name | Start Date |
|---|---|
 | September 2022 |
 | May 2022 |
 | June 2021 |
 | April 2020 |
| ÁLTALÁNOS KÖZLEKEDÉSI HITELSZÖVETKEZET "f.a." | January 2019 |
 | October 2016 |
 | July 2016 |
 | August 2015 |
 | August 2015 |
| | August 2015 |
Table 2. The most recently opened banks in Hungary.
All the credit institutions operating in Hungary can be classified into several categories. Table 3 summarises the number of banks in each category.
| Category | Number of Banks |
|---|---|
| Banks | 18 |
| Branches of foreign banks | 10 |
| Central banks | 1 |
| Mortgage banks | 5 |
| Savings banks | 16 |
Table 3. Number of banks by category in Hungary.
There are 11 branches of foreign banks from 9 different countries in Hungary. Table 4 shows the number of branches grouped by the country of origin.
| Country of Origin | Number of Branches |
|---|---|
 France | 2 |
 Austria | 2 |
 Ireland | 1 |
 Netherlands | 1 |
 Italy | 1 |
 China | 1 |
 Germany | 1 |
 Luxembourg | 1 |
 Lithuania | 1 |
Table 4. Number of branches of foreign banks in Hungary grouped by country of origin.
Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Hungary are summarised in Table 5.
Table 5. Deposit guarantee scheme in Hungary.
In Hungary there is one deposit guarantee fund, namely National Deposit Insurance Fund (NDIF).
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
Local currency (Hungarian forint) deposit ceiling for Hungary is set to A2 (upper medium grade), foreign currency deposit ceiling is A2 (upper medium grade).
Chart 2. Deposit Rates in Hungary. Source: ECB.
