Sberbank Magyarország Zártkörűen Működő Részvénytársaság products, services and reviews

About Sberbank Magyarország Zártkörűen Működő Részvénytársaság

Sberbank Magyarország Zártkörűen Működő Részvénytársaság (Sberbank Magyarország Zrt.) was the Hungarian subsidiary of Sberbank Europe AG, ultimately owned by Sberbank of Russia. The institution originated from the former Volksbank Magyarország and operated as a universal bank, offering retail and corporate accounts, cards, savings, consumer and mortgage lending, SME finance, and trade-related services under the supervision of the Magyar Nemzeti Bank, with eligible deposits covered by the national deposit insurance scheme (OBA). In March 2022, following severe liquidity stress within the Sberbank Europe group and related supervisory measures, the Hungarian central bank withdrew Sberbank Magyarország’s operating license and ordered its liquidation, which halted new business and closed daily banking services. Insured depositors were reimbursed by OBA up to the standard EUR 100,000 equivalent per depositor, per bank, within the statutory payout deadlines, while balances above the insured limit and other creditor claims became part of the liquidation estate. Loan agreements remained in force, with borrowers required to continue repayment according to instructions issued during the winding-up, and subsequent portfolio management and recoveries handled by the liquidator under Hungarian insolvency procedures. The institution no longer provides banking products in Hungary; customer interaction is limited to liquidation-related notices and claim handling communicated by the liquidator and the competent authorities.