Budapest Bank

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Budapest Bank

Budapest Bank Zrt. was established as one of the first commercial banks 25 years ago, and thanks to its full range of financial services for consumers and small- and middle-sized businesses has became an influential factor of financial market. In our services we focus on clear and simple methods, and we also stand for straightforward and no-nonsense communication.

Budapest Bank Zrt. has been an influential player of the Hungarian financial market for 25 years. As one of the first commercial banks in the country, it offers comprehensive financial services to individual and business customers since the establishment of the two-tier banking system in 1987.

GE (General Electric Company), first acquired a stake in Budapest Bank in 1995 through the acquisition of bank shares jointly held by the Hungarian government, state-owned companies and cooperatives.
Increasing its stake in the company, GE became majority shareholder in 2001 with the acquisition of shares held by the EBRD, ÁPV Rt. (the then state holding company), and small shareholders. From that time on, the Bank's solid financial background has been guaranteed by GE. Currently, GE holds a stake of 100% in Budapest Bank.

GE Capital is the division, which integrates the full range of GE enterprises offering financial services.  The Global Banking business - including Budapest Bank - is part of GE Capital, and offers a wide array of financial and banking solutions to customers worldwide.


In addition to serving retail customers, Budapest Bank provides the full range of banking services to small and medium-sized enterprises (SMEs).

Thanks to a network expansion program started in 2004, today the bank serves its customers nationwide at more than 100 branches, corporate client centers, and Money+ offices maintained for private banking clients.

In response to the dynamic growth in the clientele of the bank and its subsidiaries and the expansion of the financial institution’s activities, a new bank operations center was opened in 2006. The number of employees at the Békéscsaba Bank Operations Center, which features state-of-the-art banking technology and a 21st century working environment, exceeded 600 by the end of 2009.


In designing our services, we endeavor to ensure that our clients enjoy the quickest and most convenient access to the financial services that help them reach their goals.

Budapest Bank’s services are supplemented by other services offered by subsidiaries owned by the bank. The bank group's fully-owned subsidiaries are Budapest Auto Finance Company Ltd., Budapest Fund Management Company Ltd., Budapest Leasing Company Ltd., and Budapest Car Fleet Management Company Ltd.

Major retail services:

  • account management
  • bank cards
  • credit cards
  • loans
  • savings
  • investments
  • pension funds
  • student accounts and cards
  • car financing
  • private banking services
  • electronic banking services

Major micro business services:

  • account management
  • loans
  • investments
  • bank cards
  • electronic banking services

Major small enterprise services:

  • assessment of companies' financial capacity
  • business analysis and management consulting
  • project finance consulting
  • account management
  • loans
  • investments
  • asset leasing
  • EU tender consulting and financing
  • bank cards
  • electronic banking services

Major corporate services:

  • assessment of companies' financial capacity
  • business analysis and management consulting
  • project finance consulting
  • HUF and FX account management
  • loans
  • factoring
  • investments
  • asset leasing
  • EU tender consulting and financing
  • bank cards
  • fleet financing and management
  • electronic banking services

Owner: GE Capital (99.73%), and small shareholders
Budapest Bank registered capital (as of December 31, 2009): HUF 19,346 million
Auditor: KPMG Hungária

Bank Group - major consolidated data (in HUF million), as of December 31, 2009 Audited by KPMG Hungária in compliance with Hungarian Accounting Standards

2008. 2009. change
Total assets 938 041 909 839 (3 %)
Liabilities to customers 754 316 732 781 (3 %)
Receivables from customers 767 459 665 569 (13 %)
Net interest income 53 382 57 965 9 %
Net income on fees, commissions and other 10 938 13 569 24 %
Operating costs 47 614 39 778 (16%)
Pre-tax profit 15 570 15 208 (2 %)
After-tax profit 12 342 12 962 5 %

Consumer division

Consumer deposits 297 961 293 110 (2 %)
Consumer loans  475 331 459 340 (3 %)
Mortgages 199 964 196 151 (2 %)
Car financing 156 493 144 067 (8 %)
Fund management 260 719 254 726 (2 %)

Commercial division

Commercial loans 359 375 307 591 (4 %)
Commercial deposits 172 029 163 820 (5 %)
Leasing portfolio 80 039 59 053 (26 %)
New leasing portfolio  35 879 8 050 22%
Rate of Liquidity 0,64 0,78
Loan to Deposit Rate 106,09% 92,81%
ROA: 1,41% 1,40%
ROE: 13,16% 12,14%

Budapest Bank's nationwide network:

  • 101 bank branches
  • 23 Money+ offices (private banking services)

Members of the Board of Directors

  • György Zolnai, Budapest Bank, Chief Executive Officer
  • Gyula Fatér, Budapest Bank, Head of Consumer Banking
  • Viktor Tóth, Budapest Bank, Head of Commercial Banking
  • Urs Eichenberger, Head of Finance, Budapest Bank
  • Ferenc Rolek, Head of HR, Budapest Bank
  • György Kiss-Haypál, Head of Risk Management, Budapest Bank
  • Frigyes Lasetzky, Chief Operation Officer, Budapest Bank

Members of the Supervisory Board

  • Eric Anliker, General Counsel responsible for GE Capital Global Banking in European region,
  • Dr. Péter Ákos Bod, Head of Economic Policy Department at Corvinus University of Budapest, university professor
  • József Csürke, Head of corporate pricing and lending, Budapest Bank
  • Denis Hall  Risk leader
  • Sándor Rada, e-Finance analyst, Budapest Bank
  • Robert Green, Head of Finance, GE Money Americas
  • Zsolt Cserpák, Financial analist
  • Markus Schulz, Copliance leader

Bank Group managers

György Zolnai

György Zolnai, Budapest Bank, Chief Executive Officer

György Zolnai has been heading Budapest Bank since July 2011. György Zolnai has a wealth of international leadership experience in the banking and financial industry: during his career he has held several leader positions at financial institutions. He has been working at GE's financial business unit since 2006: prior to joining Budapest Bank he was CEO of GE Capital Russia. He received a master's degree in Mathematics from Cambridge University, England and an MBA from INSEAD in France. In addition to his native Hungarian, he speaks English, German and Russian.

Gyula Fatér

Gyula Fatér , Budapest Bank, Head of Consumer Banking

Gyula Fatér joined the Budapest Bank Group in 2000 as the CEO of Budapest Fund Management and fulfilled this position until 2014. Between 2006 and 2009 he also held a regional position with the parent company heading savings and asset management. Between 2009 and 2014 he lead Budapest Bank consumer product management. In addition to his executive responsibilities in Hungary, he is member of the Supervisory Board of BPH Fund Management (a GE Capital company) in Poland. Gyula Fatér graduated as an economist from the Budapest University of Economic Sciences. In addition to his native Hungarian, he speaks English and German.

Gábor Plank

Viktor Tóth, Budapest Bank, Head of Commercial Banking

Viktor Tóth joined Budapest Bank in 1998 as a branch manager. Between 2003 and 2006 he worked in various managerial positions in the Commercial Banking Division. During the following two years he led the Sales Finance activities of the bank. From 2008 he was the Sales Leader of the Commercial Banking business . He was appointed to head Commercial Banking in May 2010. In addition to his native Hungarian, he speaks fluent English

Tamás Révész

Tamás Révész, Budapest Auto Finance Company Ltd., Chief Executive Officer

Tamás Révész is a chartered mechanical engineer and economist. Since 1997 he has been CEO of Budapest Auto Finance Zrt. He earlier worked as Director of leasing firm Centrál Lízing Kft. Between 1997 and 2000, he was President of the Hungarian Leasing Association, and has been a member of the presidium of the Leasing Association since 2008. In addition to his native Hungarian, he speaks English.

Miklós Konkoly

Miklós Konkoly, Budapest Fund Management Company Ltd., Chief Executive Officer

CEO of Budapest Fund Management Company Ltd. since August 2014. He started his career in the bank sector in 1998 with Citibank as a consumer advisor, then private banking advisor, later promoted to branch manager. He joined Budapest Bank Group in 2007 as the Head of Money+, the private banking division of the bank. He supported the sales of Budapest Fund Management products in the Czech Republic as sales head between 2012 and 2014. In addition to his native Hungarian, he speaks fluent English.

Toldi Balázs Gergely

Balázs Gergely Toldi, Budapest Leasing Company Ltd, Budapest Car Fleet Management Company Ltd, Chief Executive Officer

Balázs Gergely Toldi has been CEO of Budapest Leasing Company Ltd Budapest Car Fleet Management Company Ltd since 2011. He held consulting and managerial positions at many leasing companies between 2000 and 2009 and headed ING Vehicle and Asset Leasing Zrt (formerly Citigroup Leasing Zrt) for several years. Prior to joining Budapest Bank, he worked as sales director at LeasePlan Hungária Zrt. In addition to his native Hungarian, he speaks English and Italian.

What we believe in - No-nonsense approach

"Most people believe banks are strictly about numbers: interest rates, yields and deadlines. Nevertheless, the majority of banks create a fairyland for their clients with tempting offers. Budapest Bank offers something else. We insist on the fundamentals and we do what we promise: we provide services that truly help our clients. Our mission is to become the primary banking advisor and service provider for our clients."
Chief Executive Officer Sean Morrissey

Our values

Budapest Bank has adopted the values and code of ethics of its parent company GE. This set of values stipulates full compliance with the regulations relevant to our line of business: honest, fair, reliable and ethical conduct. We are convinced there is only one road to success that will also preserve our reputation and earn the trust of our clients, and this is success achieved through ethical conduct. Consequently, our employees do everything in their power to meet the highest standards in respect of ethical business conduct.

In the spirit of the value system and philosophy of the Budapest Bank Group’s parent GE, we believe in playing an active role in the life of the community. Through financial support and with the help of our employees, the bank strives to contribute to the promotion of community values and the preservation of the wider environment, and hence to the development of society at large.

While performing their daily duties, Budapest Bank Group managers and employees focus on the following values at all times:

  • Straightforwardness: Whether it involves our clients, the task at hand, or our objectives, we always opt for the straight path and the most direct solution. In providing our services we strive for clear, honest and no-nonsense communication.

  • Simplicity: When providing services to clients we prefer clear and simple methods. We strive to develop rapid and easily accessible services, avoiding unnecessary paperwork and bureaucracy.

  • Transparency: We make our offers and recommendations transparent and open to inspection.

  • Customer centricity: When designing services and serving customers, we pay close attention to our clients’ financial needs and expectations.

  • Value for money:When serving clients we give preference to long-term financial solutions providing genuine value. While receptive to innovative ideas, in the interest of our clients, the community, our employees and broader society, we proceed with prudence and responsibility to provide a sense of security.