Citi has been present in Hungary since 1985 and Citibank Hungary was the first franchise Citi established in Central and Eastern Europe.
Citibank in Hungary has been operating as a branch office of the Irish based Citibank Europe plc since January 2009 as Citibank Europe plc Hungarian Branch Office. As a branch of Citibank Europe plc, we are part of a European entity with a larger balance sheet and a greater lending capacity that makes us an even stronger partner for our clients in Hungary.
The past 25 years have been very challenging and also very successful. In the first ten years, we built a formidable presence in the corporate banking market, forging profitable and durable partnerships with large Hungarian corporations, global subsidiaries clients operating in Hungary.
In 1995 we expanded our business into the area of consumer banking by opening the first consumer branch at Vorosmarty Square in Budapest. Building on our tradition in innovation, Citibank was the first bank in Hungary to introduce a 24-hour telephone customer service in 1995, to offer personal installment loans without collateral requirements in 1996, to issue the first real credit card in Hungary in 1998 and to offer offshore mutual funds for private customers in 2002. Unique to the market were the Citigold Wealth Planner in 2003, the Equal Payment Plan for credit cards in 2004, the Citibank Platinum Credit Card in 2006, the Citigold Select Center and Citigold Global Access in 2007, the Zero Fee Bank Accounts in 2008 and the Magyar Telekom-Citibank co-brand credit card in 2009.
In 1998 Citibank Hungary acquired Europai Kereskedelmi Bank (European Commercial Bank), which had many years of experience in serving small- and medium-size enterprises (SMEs) and launched the SME business. With the acquisition of ING Bank's Hungarian consumer and SME business together with its branches in 2000, Citibank increased its customer base, and established its country-wide branch network.
Citibank Hungary's diversified distribution network consists of branches, internet banking, telephone customer service and sales agents. The list of Citibank branches is available at our Branch Network site.