MagNet Bank explained

MagNet Bank
Former Name:HBW Express Takarékszövetkezet
Type:Public
Foundation:7 November 1995
Location:Budapest, Hungary
Key People:Fáy Zsolt (CEO), Attila Rostás, János Salamon
Industry:Financial services
Products:Banking and insurance
Net Income:Ft 1.421 billion
Net Income Year:2019
Assets:Ft 163.165 billion
Assets Year:2019
Equity:Ft 14.74 billion
Equity Year:2019
Homepage:www.netbank.hu

MagNet Bank, known as the HBW Express Savings Co-operative until 2010, is the only community bank in Hungary that practises ethical banking. It is owned by Hungarian citizens.

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.

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