Major industries - mining, metallurgy, construction materials, processed foods, textiles, chemicals (especially pharmaceuticals), motor vehicles
Banks (2010) - 45 banks; 1,670 branches; 39,875 employees; assets – EUR 120,93 billion; loans – EUR 74,80 billion; deposits – EUR 48,81 billion
Banking regulations – In Hungary the supervision and regulation of the financial sector is integrated, which means that the supervision of banking, insurance, pension funds, as well as capital markets is performed by one and the same authority, the HFSA, with a harmonised methodology and approach, although the types of activities are governed by different legal instruments. This approach makes group level supervision as well as cross-sector risk assessment possible.
The HFSA undertakes both prudential supervision of banks and other financial institutions and regulation of how they conduct their business. The authority of the HFSA stems from various legal sources, however, and the structure and methods of supervision are laid down in Act CLVIII of 2010 related to the Hungarian Financial Supervisory Authority (‘the HFSA Act’). Banks may be founded with a minimum subscribed capital of 2 billion forints (~ EUR 7 million).