Hungarian Development Bank Becomes Financial Services Centre
- 24 Sep 2014 9:00 AM
The government plans to transform the Hungarian Development Bank (MFB) into a financial services centre in future, state secretary Zsuzsanna Németh said on Tuesday. Speaking at a conference organised by business daily Napi Gazdaság, Németh said the bank’s portfolio would change and that complex financial solutions would be crafted for capital, credit and guarantee products.
She said MFB would maintain its ties with commercial banks, but greater stress would be placed on its cooperation with savings cooperatives and state-owned postal company Magyar Posta.
MFB’s investment activities will also be made more efficient, she added. The plan is to involve the MFB in the distribution of credit from European Union sources.
The bank wants to support the activities of companies such as the National Toll Payment Service Company and the National Mobile Payment Company.
A number of opportunities will arise to further develop the activities of these companies in the future, she said.
Source www.hungarymatters.hu
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