MagNet Bank

Name

MagNet Bank

Legal name

MagNet Bank Zrt.

Website

https://magnetbank.hu

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

Mutual Savings Banks & Mutual Thrifts (FSABAEAD), Social Impact & Inclusive Finance Funds (FSANAJAH)

Keywords

• Retail banking services
• Community banking
• Corporate banking
• Mortgage lending
• Digital banking

Headquarters

HQ city

Budapest

HQ country

Hungary

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: The bank generates revenue primarily through interest margins on loans (housing loans, personal loans, business loans) and earns interest on customer deposits. Includes government-supported loans (CSOK Plusz, Otthon Start, Babaváró) with subsidized rates.
2. Account and Transaction Fees: Monthly account maintenance fees (various packages), transaction fees for transfers, ATM withdrawals, and banking services. Fee structures vary by account tier (Nova HUF, FIX 2, FIX 5, MagMax, etc.) with free transaction allowances built into premium packages.
3. Card Revenue: Revenue from debit/credit card issuance fees, monthly card fees, and interchange fees on card transactions processed through Mastercard network.
4. Loan Origination Fees: Processing fees for loan applications including housing loans, personal loans, and business credit facilities. Currently offering promotional fee waivers for various loan products.
5. Corporate Banking Services: Business account packages, factoring services, Széchenyi Card Program administration, and EXIM export financing programs for corporate clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

MagNet Bank is an independent Hungarian community bank providing retail, corporate, and nonprofit banking services. Its core offerings include HUF and foreign currency account packages, mortgage and personal loans (including government-subsidized programs), term deposits, the Apránként gamified savings program, business accounts with factoring and SME lending, and digital banking channels (NetBank, MobilBank, VideoBank). Differentiated community programs such as the Community Donation Program (KAP), Helper Card, and 1-Customer-1-Tree forest initiative align banking activity with social and environmental outcomes.

Product overview

MagNet Bank operates as a community-focused retail bank in Hungary offering a comprehensive suite of banking products across three main segments: retail (individuals), corporate (businesses), and nonprofit organizations. The product portfolio is organized as a platform-plus-modules architecture consisting of foundational account packages, credit products, deposit offerings, and digital banking platforms. For retail customers, core offerings include seven distinct HUF and foreign currency account packages (MagNet Nova, FIX 2, FIX 5, MagMax, Nova Deviza, Alapszámla 2, and MagNext for youth), supplemented by mortgage loans (Otthon Start, CSOK Plusz, general mortgage), personal loans (standard, green-purpose, auto, debt consolidation), revolving credit, and the Baby Welcome loan. Savings products feature the Apránként digital savings program with fixed-amount and card-roundup options, term deposits (PRIZMA, Hello Betét, Mentor Plusz, Szféra Plusz), and tax-advantaged long-term savings. Corporate banking includes tiered account packages (Mini through Pro, Szimpátia for nonprofits), SME credit programs (Széchenyi Card, Demján Sándor programs), factoring, and agricultural pre-financing. Digital channels comprise MobilBank (iOS/Android app), NetBank (web platform), and VideoBank (video conferencing service) with DÁP digital identity integration. Unique community programs include the Community Donation Program (KAP), Helper Card Program, Community Savings and Lending (Mentor-Szféra Plusz), and the 1 Customer = 1 Tree forest planting initiative. All segments support contactless payments via Apple Pay and Google Pay, qvik QR payments, and Okoskassza smart cash register integration.

Differentiator

Problem solved

Functional benefit

Products and services

• MagNet Nova HUF számlacsomag Entry-level retail HUF account package with no monthly income or transaction requirements, featuring honor-based (Becsületkasszás) account fees where customers choose their own monthly fee between 0-1000 HUF, free internal transfers, and free NetBank/MobilBank access.
• MagNet FIX 2 számlacsomag Retail account package for customers with monthly salary deposits, offering two free electronic transfers per month and preferential monthly fees when conditions are met (549 Ft vs. 2,549 Ft).
• MagNet FIX 5 számlacsomag Higher-tier retail account package requiring minimum 350,000 HUF monthly credit, providing five free electronic transfers per month and discounted account maintenance fees when conditions are met (890 Ft vs. 3,549 Ft).
• MagMax számlacsomag Premium retail account package for high-income customers requiring 500,000 HUF monthly credit or 1,000,000 HUF average balance, offering unlimited free domestic electronic transfers and a free first-year Mastercard card.
• MagNet Nova Deviza számlacsomag Multi-currency retail account package supporting EUR, USD, GBP, and CHF for international transactions and term deposits, with free internal transfers and no card issuance.
• Alapszámla 2 számlacsomag Government-mandated basic account for unbanked individuals, offering legally mandated free transfers up to 100,000 HUF monthly and free monthly ATM withdrawals.
• MagNext számlacsomag fiataloknak Youth account package for customers aged 14-24 with honor-based account fees and free transfers up to 50,000 HUF, designed for first-time bank customers.
• MagNet Otthon Start Lakáshitel Government-subsidized home purchase loan with a 2.80% fixed interest rate during the promotional period (3.00% standard, 3.0% THM), up to 50 million HUF for first-time home buyers, with up to 25-year terms and a 200,000 HUF account credit for loans over 10M HUF.
• MagNet CSOK Plusz Lakáshitel Family home purchase loan with government interest subsidy offering a fixed 3% interest rate for the entire term, up to 50 million HUF based on number of children.
• MagNet lakáscélú jelzáloghitelek Mortgage loans for new or used property purchases, land acquisition, renovation, modernization, or loan refinancing, with 10-year fixed interest periods.
• MagNet Személyi kölcsön Zöld hitelcélokra Eco-friendly personal loan for solar panel systems, heat pumps, home insulation, EV charging stations, and electric vehicles, with interest rate discounts for green purposes.
• MagNet Személyi kölcsön autóvásárlási célra Auto purchase personal loan for new or used cars and motorcycles with no collateral required, featuring competitive rates and a free first-year compulsory insurance refund up to 50,000 HUF.
• MagNet Hitelkiváltó Személyi kölcsön Debt consolidation personal loan for refinancing existing loans, credit lines, and credit cards from other institutions, with the potential for additional free-use funds (500,000-10,000,000 Ft, 2-7 year terms, 9.95%-21.25% annual interest).
• MagNet Személyi kölcsön Unsecured personal loan for free use with amounts up to 10 million HUF, fixed interest rates, and no collateral required.
• MagNet Folyószámlahitel Revolving credit line linked to a payment account serving as an automatic overdraft facility for unexpected expenses, with limits of 150,000-1,000,000 HUF.
• MagNet Babaváró kölcsön Government-supported interest-free loan for married couples planning children, with an interest-free period after the first child and potential debt forgiveness upon the birth of the third child.
• MagNet szabad felhasználású jelzáloghitelek Free-use mortgage loans with real estate collateral, amounts from 5 million HUF, 10-20 year terms, and 10-year fixed interest periods.
• Apránként Megtakarítási Program Digital piggy bank savings program with fixed-amount or card-purchase round-up options, daily interest accrual, and bonus interest rewards for goal achievement.
• MagNet MobilBank Mobile banking application for iOS and Android enabling full account management, transfers, card control, savings programs, and referral features.
• MagNet NetBank Online banking platform for comprehensive account management, transfers, and bill payments via web browser, with DÁP e-Identification login support.
• MagNet VideoBank Video banking service enabling account opening, customer due diligence, and banking transactions via video call with customer service agents, expanded in July 2025 to cover 40+ retail and corporate transaction types.
• MagNet Mini/Midi/Maxi/Pro számlacsomag Tiered corporate account packages (Mini through Pro) offering different transaction limits, services, and fee structures for small to large enterprises.
• MagNet Szimpátia számlacsomag Account package for nonprofits and sympathetic organizations with special community-focused features and favorable terms.
• Faktoring (MagNet Faktoring) Invoice factoring services for corporate customers via magnetfaktor.hu for working capital optimization.
• Széchenyi Kártya Program Government-subsidized SME loan programs including revolving credit, investment loans, and liquidity loans through the Széchenyi Card program (Agrár Széchenyi, Széchenyi Likviditási, Széchenyi Beruházási MAX+ constructs).
• Demján Sándor Hitelprogram (EXIM Jövő Exportőrei) Export-oriented investment and working capital loan programs for future exporters (Jövő Exportőrei Beruházási, Zöld Beruházási, Befektetési, and Exportélénkítő Beruházási loans), including green investment options.
• Széfszolgáltatás Safe deposit box services for storing valuables, jewelry, and important documents in bank-secured vault compartments.
• PRIZMA betét (Prizma forint és EUR betét) Premium term deposit with competitive interest rates for 3, 6, or 12-month periods, available in both HUF and EUR with promotional rates for new funds.
• Mastercard bankkártya (Standard és Business) Mastercard debit cards for retail (Standard) and corporate (Business) customers, enabling worldwide payments and cash withdrawals, with digital wallet compatibility for Apple Pay and Google Pay and access to the Mastercard Business Bonus Program for corporate card users.

Quantifiable outcome

• Companies financed by MagNet have 56.5% lower CO2 footprint than national average
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Six partnerships are on record, tiered flagship and core.

• Polgári BankflagshipStrategic or Co-development Partner · 2 June 2025MagNet Bank acquired the majority of Polgári Bank shares, with customers transferring to MagNet on February 28, 2026. This acquisition represents a significant milestone for MagNet.
• MastercardcoreTechnology or IntegrationMastercard provides debit card infrastructure for MagNet's retail and business banking cards. The partnership enables contactless payments, Apple Pay, Google Pay, and international card acceptance.
• EURONETcoreChannel Partner/ Reseller/ DistributorEURONET provides ATM network access for MagNet customers, offering 500+ ATMs across Hungary for cash withdrawals with MagNet pricing conditions.
• Global Alliance for Banking on Values (GABV)flagshipStrategic or Co-development PartnerGABV is a worldwide movement of banks operating according to advanced sustainable and ethical banking values. MagNet is the only Hungarian member of this 45-country network.
• KiberPajzscoreStrategic or Co-development PartnerHungarian cybersecurity awareness program helping customers recognize fraud attempts and understand necessary precautions for safe banking.
• MagNet FaktoringcoreChannel Partner/ Reseller/ DistributorFactoring services for business customers under the magnetfaktor.hu brand, providing working capital financing for invoices.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Triodos Bank: Dutch values-based and sustainable bank operating across Europe with a community-driven model and transparent impact reporting. Triodos is the closest global analogue to MagNet's ethical/community banking positioning and GABV membership.
• GLS Bank: Germany's largest sustainable bank and fellow GABV member, offering community banking with social and ecological lending focus. Directly comparable to MagNet on values-based retail and impact mission.
• Merkur Andelskasse: Danish cooperative bank focused on sustainable and ethical banking, similar in scale to MagNet and aligned with the GABV community-banking movement.
• Banca Etica: Italian ethical bank offering community-oriented accounts and impact lending to NGOs and values-aligned customers. Directly comparable on community-banking DNA and nonprofit customer focus.
• Alternative Bank Schweiz: Swiss ethical and cooperative bank financing social, ecological, and cultural projects. Comparable to MagNet's community deposit/loan and green lending programs.
• Crédit Coopératif: French cooperative bank dedicated to the social and solidarity economy, serving NGOs and values-aligned clients. Closely mirrors MagNet's nonprofit segment focus and Szimpátia-style offerings.

Broad incumbents

• OTP Bank: Hungary's largest universal bank with nationwide branch network and full retail/corporate product suite. Provides a direct domestic incumbent benchmark for MagNet's market share and pricing dynamics.
• Erste Bank Hungary: Major Hungarian universal bank (subsidiary of Erste Group) offering retail, SME, and corporate banking. Comparable as a large domestic competitor with overlapping customer segments.
• K&H Bank: One of Hungary's largest universal banks, offering comprehensive retail, corporate, and government-subsidized lending products. Key competitor to MagNet in Hungarian retail and SME banking.

Others

• Grameen Bank: Pioneer of community-based microfinance and financial inclusion. Conceptually comparable to MagNet's community banking ethos and civil-sector support programs, though operating in a very different geography and product set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/magnet-magyar-k-z-ss-gi-bank
• Facebookfacebook.com/magnetbank

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MagNet Bank