Hungaryโs banking scene blends well-established local banks with international players, offering everything from everyday accounts and credit cards to business financing and investment services.
Whether youโre moving to Hungary, investing, or managing a business, knowing the top banks in Hungary and what they offer can make handling your money much easier.
In this guide, you will learn about:
Top 10 Banks in Hungary
01/ OTP Bank
As one of the most established and largest banks in Hungary, OTP Bank provides a wide array of services, including personal and corporate banking, wealth management, and digital banking. Whether you need a simple savings account or advanced investment banking services, OTP Bank has you covered with strong customer service and an expansive branch network across the country, with cash management services.
Key products
- Consumer banking
- Corporate banking
- Wealth management
- Mortgage loans
- Investment banking
- Foreign currency exchange
- Credit cards
02/ K&H Bank
One of the major players in Hungary, K&H Bank (Kereskedelmi รฉs Hitelbank) specializes in personal, retail and business banking. It offers a range of personal banking services, including loans, savings, and insurance. With its focus on technology, K&H is also a leader in digital banking services.
Key products
- Account management
- Savings and investments
- Loans and project financing
- Treasury services
- Private banking
- Investment fund management
- Securities trading
- Life and pension insurance
03/ UniCredit Bank
A subsidiary of the international UniCredit Group, UniCredit Bank offers comprehensive banking services for both individuals and businesses in Hungary. Itโs well-known for its global reach and for offering competitive rates on mortgages, savings, and business financing.
Key products
- Retail and private banking
- Corporate and investment banking
- Insurance
- Finance leasing
04/ Raiffeisen Bank
Raiffeisen Bank is an international, Austrian-owned bank, with a strong presence in Hungary, offering a variety of services from personal banking products to business solutions. Known for its personalized customer service, Raiffeisen Bank Hungary is a solid choice for those seeking long-term banking relationships.
Key products
- Investment banking
- Corporate and retail banking
- Financing solutions
- Wealth management / private banking
- Cash management
05/ MBH Bank
One of the leading banks in Hungary, MBH Bank is a universal bank with branches nationwide. Ideal for retail and business banking, MBH offers financial solutions tailored to companies, investors, and small businesses in Hungary.
Key products
- Accounts and Cards
- Loans and Mortgages
- Savings and Investments
- Financing and Business Loans
- Trade and Global Markets
06/ CIB Bank
CIB Bank is a member of the Intesa Sanpaolo Group, one of Italyโs largest banking groups. It provides services for individuals and businesses alike, including savings and current accounts, mortgages, and investment products. The CIB Bank operating in Hungary is renowned for its strong digital banking options.
Key products:
- Savings
- Personal Loans
- Home Loans
- Insurance
- Bank Accounts
- Bankcards
- Digital Bank
07/ Erste Bank
Erste Bank is one of the largest financial institutions in Hungary and a subsidiary of the Austrian Erste Group Bank AG, which operates across Central and Eastern Europe. Established in Hungary in 1997, Erste Bank provides a comprehensive range of financial services, including personal banking, corporate and investment banking, and digital banking solutions.
Key products
- Retail and Commercial Banking
- Investment and Private Banking
- Asset Management
08/ Grรกnit Bank
Founded in 2010, Grรกnit Bank is a wholly Hungarian-owned digital bank and one of Hungaryโs fastest-growing financial institutions. It was the first bank in the country to fully adopt a digital banking model, allowing it to operate with high cost-efficiency and offer affordable, innovative financial services.
Key products
- Bank Accounts
- Savings
- Mortgages
- Financing
- Treasury Transactions
09/ Deutsche Bank
Deutsche Bank is a global financial powerhouse with a significant presence in Hungary. It caters mainly to high-net-worth individuals and businesses, providing specialized services in investment banking, wealth management, and corporate finance.
Key products
- Banking
- Mortgage Loans
- Credit Cards
- Wealth Management
- Investment Management
10/ MFB: Magyar Fejlesztรฉsi Bank (Hungarian Development Bank)
Magyar Fejlesztรฉsi Bank (MFB) is Hungaryโs state-owned development bank, established to support the countryโs economic growth through financing infrastructure, innovation, and business projects. Unlike commercial banks, MFB focuses on strategic investments rather than traditional banking services like personal accounts or daily banking.
Key products
- Lending Programs
- Government-backed Schemes
- Green Investments
- Equity Participations and Venture Capital
- EU Funds Intermediation
Banking System in Hungary
Hungaryโs banking system is a stable, two-tier structure overseen by the National Bank of Hungary (MNB). It features well-capitalized, liquid, and resilient commercial and specialized banks, including major players like OTP, K&H, Erste, and Raiffeisen.
The Hungarian banking sector meets EU standards and provides a full range of services for individuals and businesses. It is highly digitized, and although some areas are locally controlled, foreign banks continue to operate in the market.
Are there international banks in Hungary?
Hungary offers a combination of domestic banks and leading international institutions. Major names like Erste Bank, Raiffeisen, UniCredit, and Citi have a strong presence, and additional foreign banks, such as Bank of China, also operate in the country. Most institutions are headquartered or have major offices in Budapest.
These international banks offer an array of services ranging from personal banking to corporate clientsโ solutions and wealth management, often with English-language support.
Local vs International Banks in Hungary
Choosing between a local Hungarian bank and an international bank depends on your personal or business banking needs. Local banks such as OTP Bank and K&H Bank offer tailored services with deep insights into the Hungarian market, making them ideal for those looking to settle down long-term.
On the other hand, international banks like UniCredit Bank or Raiffeisen Bank are beneficial if you have cross-border financial needs or plan to expand your business internationally.
For instance, if you are considering investing in the country through the Hungary Golden Visa, or considering applying for Hungary citizenship by descent, working with a local bank may provide more relevant financial products and expertise. Additionally, Hungarian banks often have more in-depth knowledge of local tax regulations and investment opportunities.
How To Open a Bank Account in Hungary
Opening a bank account in Hungary is a straightforward process. Hereโs a step-by-step guide:
- Step one: Select your bank in Hungary
- Step two: Gather the required documents for opening a bank account in Hungary. This may include:
- Valid passport or Hungarian ID card
- Proof of address (e.g., utility bill, rental agreement)
- Proof of income (for some accounts or loan applications)
- Proof of Hungarian residency (if you donโt have a Hungary passport)
- Step three: Apply online or in-person: Some banks may allow you to open a bank account online, particularly for simple cheque or savings accounts. Loans and credit card accounts generally require you to apply in-person.
- Step four: Set up digital banking: Once you have applied and your account is active, set up your digital banking account to ensure you can manage your finances efficiently.
How to Choose a Bank in Hungary
There are a few important things to consider when banking in Hungary, including:
- Fees: Itโs essential to understand the fees and costs for each bank to make essential financial decisions.
- Required services: Ensure that the banks in Hungary you consider offer the specific services you require.
- Banking features: Choose a bank that offers the features you value most, whether itโs a convenient branch location, mobile banking options, or a user-friendly online platform.
- Customer service: Look for Hungarian banks that are well known for their customer service. You want a bank that is there when you need it.
- Language support: If you are not Hungarian, finding a bank that has the language services you need is essential.
- Location: Ensure that the bank has branches or ATM machines for cash withdrawals near you, or that they offer easy access to online services.
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