Recent years have not been kind to Hungary’s embattled foreign banks, and the pain isn’t over yet. Since premier Viktor Orban swept to power in 2010, lenders have been hit by a brace of new taxes – one directly targeting profits, the other carving a slice out of every financial transaction – as well as a relief scheme for mortgage borrowers.
Caught in the state’s crosshairs, some foreign banks have understandably opted to siphon capital out of the country and sequester it in more industry-friendly jurisdictions.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
