Raiffeisen to close branches and downsize in Hungary

According to hvg.hu Raiffeisen announced on Wednesday, 29. April 2015 that it would reduce the number of its branches from 112 to 67, introduce a 20 per cent (over HUF 10 billion p.a.) cost-saving campaign and cut back its staff by 15 per cent by the end of 2016.

According to the press release in the future the focus will shift from mass retail service to the corporate, premium and private banking businesses where both the number of staff and the assets managed will be increased by 15-20 per cent. Raiffeisen still intends to retain 80 per cent of its retail customers by placing greater emphasis on new electronic banking channels.

Raiffeisen closed its previous business year with a loss of HUF 114.7 billion, mainly due to the effects of the compulsory settlement of foreign-currency loans.

Demand for housing was weak for most of 2023, but by the end of the year interest had increased, and from the beginning of 2024 the Csok Plus programme boosted the market

hvg.hu 16.04 In the first quarter of this year, home buyers took advantage of the new subsidy option in almost exactly one sixth of the loans, 16.7 percent. Of course, it was not only the Csok Plus programme that helped, but also the fact that interest rates have started to fall and inflation has also […]

Second highest house price increase in the EU since 2010 in Hungary

hvg.hu, 04 04 – In the last quarter of 2023, the average price of housing in the EU was 48 percent more expensive than in 2010 – Eurostat said. House prices in Hungary rose by 185 percent between 2010 and 2023. This is the second highest increase in the EU, with only Estonia 217 percent […]

Heirs left in the lurch at the probate hearing

napi.hu, 20.01 – Cryptocurrencies, social media profiles or documents stored in the cloud are increasingly common in probate proceedings. However, few people know that in lack of proper regulation and provisions, access to crypto currencies can be questionable for heirs, or that tech giants only allow access to deceased people’s data to those entitled to […]

Property and mortgage market data

napi.hu, 18.01 – More than a third of Budapest clients signed contracts for over HUF 20 million last year. Between September and December, for example, their share was 42%, which reflects an increase of 10 percentage points in 2021. The number of applications in this value range has increased steadily from quarter to quarter, to […]

Real estate prices have increased on the back of CSOK