MagNet Bank (), known as the HBW Express Savings Co-operative () until 2010, is the only
community bank
A community bank is a depository institution that is typically locally owned and operated. Community banks tend to focus on the needs of the businesses and families where the bank holds branches and offices. Lending decisions are made by people w ...
in
Hungary
Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Pannonian Basin, Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the ...
that practises
ethical banking
An ethical bank, also known as a social, alternative, civic, or sustainable bank, is a bank concerned with the social and environmental impacts of its investments and loans. The ethical banking movement includes: ethical investment, impact inves ...
. It is owned by Hungarian citizens.
MagNet Bank has a network of 12 branches along its center in the capital
Budapest
Budapest (, ; ) is the capital and most populous city of Hungary. It is the ninth-largest city in the European Union by population within city limits and the second-largest city on the Danube river; the city has an estimated population ...
. It offers the following financial products: retail, loan, term deposits, community banking products, online banking, debit cards, insurance.
Since 2013 September the MagNet Bank standardised the
debit MasterCard
Debit Mastercard is a brand of debit cards provided by Mastercard. They use the same systems as standard Mastercard credit cards but they do not use a line of credit to the customer, instead relying on funds that the customer has in their bank ...
. The bank has
ATMs at each branch.
See also
*
List of banks in Hungary
{{Portal, Banks
External links
Official websiteBloomberg BusinessWeek: Company Overview of MagNet Bank Zrt.Reuters.com: Italy's Banco Popolare sells Hungarian unit
Banks of Hungary
Banks established in 1995
Ethical banking