Internal restructuring
Kozep-Magyarorszag; Kozep-Magyarorszag; Budapest
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

250 jobs
Number of planned job losses
Job loss
Announcement Date
10 November 2010
Employment effect (start)
Foreseen end date


Este Bank Hungary plans to dismiss 9% of its employees, i.e. 250 persons until the end of 2010. The financial crises and a new taxation system in Hungary are indicated as the reasons of the dismissals. The management stated that the bank has successfully implemented its cost-driven business strategy which made it possible to avoid redundancy until recently. The planned redundancies are necessary in the current economic and business environment to ensure the long-term viability of operations.

Erste Bank Hungary is part of the Erste Group. With its eight subsidiaries, Erste Bank Hungary covers the entire spectrum of financial services. The premium position held by Erste Bank Hungary on the retail market is made even stronger by a strategic cooperation with Magyar Posta (Hungarian Post).


  • 10 November 2010: Napi Gazdaság
  • 10 November 2010: Heti Világ Gazdaság


Eurofound (2010), Erste Bank Hungary, Internal restructuring in Hungary, factsheet number 71162, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71162.