MagNet Bank

MagNet Bank (Hungarian: MagNet Magyar Közösségi Bank Zrt., lit. 'MagNet Hungarian Community Bank'), known as the HBW Express Savings Co-operative (Hungarian: HBW Express Takarékszövetkezet) until 2010, is the only community bank in Hungary that practises ethical banking. It is owned by Hungarian citizens.

MagNet Bank

Formerly	HBW Express Takarékszövetkezet
Company type	Public
Industry	Financial services
Founded	7 November 1995
Headquarters	Budapest, Hungary
Key people	Fáy Zsolt (CEO), Attila Rostás, János Salamon
Products	Banking and insurance
Net income	Ft 1.421 billion (2019)
Total assets	Ft 163.165 billion (2019)
Total equity	Ft 14.74 billion (2019)
Website	www.netbank.hu

A bank building in Budapest

MagNet Bank has a network of 12 branches along its center in the capital, Budapest. Its financial products are retail, loan, term deposits, community banking products, online banking, debit cards and insurance.

Since September 2013, the MagNet Bank standardised the debit MasterCard. It has automated teller machine, at each branch.

See also

• List of banks in Hungary

• Banks portal

External links

• Official website
• Company Overview of MagNet Bank Zrt., Bloomberg BusinessWeek
• "Italy's Banco Popolare sells Hungarian unit", Reuters