Hitelintézet

Hitelintézet is a Hungarian term that translates to "credit institution" in English. It refers to a financial organization that is authorized to conduct banking activities, primarily centered around accepting deposits and granting loans. In Hungary, Hitelintézet is a broad category encompassing various types of financial entities, including commercial banks, savings banks, and cooperative credit institutions. These institutions play a crucial role in the Hungarian economy by facilitating financial transactions, providing capital for businesses and individuals, and managing monetary policy.

The establishment and operation of a Hitelintézet are subject to strict regulations and supervision by the Hungarian National Bank (Magyar Nemzeti Bank). These regulations are designed to ensure the stability of the financial system, protect depositors, and maintain market integrity. The scope of activities permitted for a Hitelintézet typically includes taking deposits from the public and other entities, providing credit and loans of all types, engaging in payment services, issuing payment instruments, and performing other related financial services as authorized by law. The specific licensing and operational requirements vary depending on the type and size of the credit institution.