Erste Bank Hungary Establishes Mortgage Bank

  • 5 Aug 2015 9:00 AM
Erste Bank Hungary Establishes Mortgage Bank
Erste Bank Hungary on Monday announced the establishment of its own mortgage bank. The company charter has been signed, but the unit still requires the approval of the National Bank of Hungary (NBH). The NBH requires lenders to back at least 15% of their net mortgage loans with long-term liabilities from October 1, 2016, which probably explains Erste Bank Hungary’s motivation.

Earlier, the only lenders in Hungary with mortgage banks were OTP, Unicredit and FHB.

Erste is the first to establish its own mortgage bank since the NBH announced the regulatory changes to mortgage lending.

Source www.hungarymatters.hu - Visit Hungary Matters to sign-up for MTI’s twice-daily newsletter.

  • How does this content make you feel?

business CHANNEL SPONSOR

Share your story

We're interested in your stories, and photos, related to expat life in Hungary. Your contributions, and Press Releases, are invited for review before publication in the loop.