The Hungarian financial sector has undergone rapid change and development in recent years. Changes that commenced in the 1980s continued into the 1990s, establishing a multi-faceted, broad-based industry regulated by legislation aimed at harmonizing the Hungarian financial sector with that of the EU.
The financial sector counts some 44 retail, commercial and consumer finance banks, over 80 investment companies and brokerage houses and 30 or more representative offices of foreign banks and financial institutions.
Recent years have seen substantial growth – one could in fact speak of a boom – in the industry, with banks expanding their range of services and networks.
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