CIB was registered under the Hungarian Company Law of 1875, subsequently replaced by the Company Law of 1988. Until the end of 1995 the bank pursued its operation on the basis of a licence issued by the Ministry of Finance and then on December 21, 1995 the State Banking Supervision licensed CIB Bank to conduct a commercial banking business.
The CIB Hungary or the Central European International Bank is one of the most influential members of the Hungarian banking sector. The CIB Hungary is the fourth largest bank of the country, which is proved by the turnover of the company, which was more than 1000 billion Ft. The CIB bank in Hungary was established in the year 1979 in Budapest by an international consortium.
CIB Bank Rt. provides commercial banking services primarily in Hungary. It operates principally through four segments: Retail Banking, Corporate Banking, Treasury and Bank, and Leasing.
The Retail Banking and Corporate Banking segments provide banking services, private customer current accounts, savings and deposits accounts, credit cards, bankcards, investment saving products, and customer loans and mortgages. It also offers e-banking and documentary transaction services.
The Treasury and Bank segment offers investment and supplementary investment services, and other products to corporations, small and medium-sized enterprises, and private individuals.
The Leasing segment provides non-fleet car financing; fleet and project management services; financing for machinery and equipment, trucks, and real estate; and insurance brokerage services. The bank was founded in 1979 and is headquartered in Budapest, Hungary.
On the basis of the operating licence, the bank performed transactions in convertible currencies only. The customers of the bank gradually included more and more Hungarian companies and organisations making use of the services of the bank subject to the licences of the foreign exchange authorities.
The CIB started operating from January 1, 1980. The CIB bank is a member of the CIB Group and CIB Leasing Group. The CIB bank has gained the status of a universal bank and also has become a important baking institution of Hungary. The CIB Securities Ltd. is the investment division of the CIB Bank. It is one of the primary participants of the government security market and according to the recent surveys has the largest turnover in the Hungarian market.
The CIB bank provides extensive financial services to the Hungarian banking market. It handles both retail banking as well as corporate banking affairs. The bank also provides e-banking facilities to its clients.
The CIB bank started to expand its branches in the year 1992. By the end of year 2006, the bank had 98 branches, out of which 44 were located in Budapest and 54 were situated in the countryside areas.
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