Sberbank HU

Sberbank Hungary (Sberbank HU) was the Hungarian subsidiary of Russia’s largest lender, Sberbank, operating under Sberbank Europe AG. Headquartered in Budapest, it offered retail and corporate banking services including loans, deposits, and investment products. The bank was part of Sberbank’s broader European network, serving individuals, SMEs, and larger businesses until 2022.

In March 2022, Sberbank Hungary was forced to close after sanctions and financial instability linked to Russia’s invasion of Ukraine caused severe liquidity problems. The Hungarian National Bank revoked its license, and customer deposits were reimbursed by the National Deposit Insurance Fund up to EUR 100,000. Parts of its loan portfolio were transferred to MBH Bank, ensuring continuity for clients. With its closure, Sberbank exited the Hungarian market entirely, marking the end of its European presence.