Doing Business in Hungary
Hungarian Market Spotlight:
Mid-sized foreign companies that want to take advantage of the opportunities afforded by Hungary's geographic location and workforce advantages, as well as domestic companies in the value chains of multinational corporations located there, need global commercial banking solutions that simplify domestic growth and expansion into international markets. Many of these mid-sized companies are leveraging Citi Commercial Bank's unique combination of global reach and local expertise for their banking solutions, as well as enjoying access to dedicated, experienced commercial bankers who are on the ground in countries that account for 28% of Hungary's trade flow: Russia, Slovakia, Romania, Poland and China.
"Freeway Entertainment Group is a leading international financial services company working across film, television and video games within the global entertainment industry. Managing multi-country revenues and currency transactions on behalf of our partners and clients across different countries is intensive and highly complex. However, the level of attention to detail and service that we consistently receive from Citibank through its US, Hungarian, UK and Dutch operations gives us the confidence and security we need to ensure that we can do our job well and help our partners grow their businesses. We are delighted to be in business with Citibank."
- Martijn Meerstadt, Freeway Entertainment Group
About Citi Commercial Bank Hungary
Citi opened its first office in the Central and Eastern Europe region in Budapest in 1985 and has since established a legacy of ingenuity and leadership in commercial banking. Today, CCB Hungary operates as a unique global bank empowering mid-sized enterprises with a wide range of customized commercial banking solutions including cash management, financing, trade and treasury services, and cross border financing. Our diversified distribution channels consist of branches, CitiPhone banking, Citibank Online internet banking and direct sales/telesales channels. CCB Hungary's dedicated Relationship Managers are committed to building long-term relationships and providing insights, advice and guidance on expanding domestically or overseas.
CCB Hungary Country Business Head
Citi Hungary appointed Kornél Csodó as the Head of its Commercial Banking Business in July of 2015. Mr. Csodó has twenty years of combined Retail, Institutional Client Group and Commercial Banking experience. He first joined Citi Hungary in 1995 as an executive trainee in Retail Banking after getting his MBA from the University of Pittsburgh. Mr. Csodó then moved to the Corporate Bank to become a relationship manager within the Global Subsidiaries Group. He held various Corporate Banking positions in two other financial institutions before rejoining Citi in 2003 as the Head of the Top Tier Local Corporates Segment. In 2009, he was appointed head of Mid-Market Enterprises within the Commercial Bank in Hungary.
"I am excited to have the opportunity to leverage my skills, local knowledge and experience as I work with our team to continue to grow our core client relationships. I look forward to using Citi's unique value proposition to facilitate client growth and support expansion efforts regionally and globally."
- Kornél Csodó