Allianz Bank opens first branch in Hungary
Allianz Bank has opened a branch in Hungary, making its Allianz Hungaria subsidiary the first insurer and asset manager in the country to found a retail bank.
The move also represents a foray beyond the insurance and funds segment and into banking for Allianz Hungaria. In addition to the traditional life, non-life and pension services, the company now also offers banking products and services. Indeed, the launch of the bank is part of Allianz Hungaria's strategy to provide integrated financial services for its almost two million customers. The company will offer basic retail banking products, including retail account packages, loans combined with insurance and funds services, diverse deposit facilities and credit cards. The portfolio will be completed by personal and mortgage loans, products for SMEs, and electronic banking services next year. The first branch has opened in Budapest, and another five will open later this year, with an additional 25 by the end of 2008.
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Allianz SE (Allianz) is one of the leading global financial services providers, offering a range of banking, asset management and insurance services. The company was formerly known as Allianz AG. Allianz is the parent company for the Allianz Group of companies. The company is one of leading insurance providers in the property and causality, and life insurance in the global market. Allianz is one of the major players in the German insurance market. The company, combined with its subsidiaries, serves over 75 million customers in more than 70 countries across Europe, Asia-Pacific, America and Africa. The company's banking operations are conducted through Dresdner Bank AG and its subsidiaries. Global Markets Direct’s Allianz SE - Financial and Strategic Analysis Review is an in-depth business, strategic and financial analysis of Allianz SE. The report provides a comprehensive insight into the company, including business structure and operations, executive biographies and key competitors. The hallmark of the report is the detailed strategic analysis of the company. This highlights its strengths and weaknesses and the opportunities and threats it faces going forward. Reports Buy online from $125
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