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Article (125/256)
Hungary market snapshot
Hungary market snapshot

Hungary market snapshot


The lion on the Danube

In 1990, Hungary held its first multiparty elections and initiated a free market economy. It entered the North Atlantic Treaty organization (NATO) in 1999 and the European Union (EU) in 2004. Economic reforms and the EU structural funds boosted the economic growth but, in 2008, the global financial crisis hit the Hungarian economy which was heavily indebted.

BNP Paribas is one of the longest-standing international banks in Hungary, opening its first  representative office in 1978 and obtaining a full banking licence in 1991. Since then, BNP Paribas has steadily grown providing diversified services to Hungarian state entities, corporates, financial institutions, and savings solutions for private individuals.


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