International Investment Bank’s headquarters to move to Budapest this year

The Hungarian headquarters of the International Investment Bank will open in the second half of 2019, and according to plans the entire headquarters will move to Hungary within two to three years, Finance Minister Mihály Varga said after his talks with Nikolay Kosov, Chairman of the financial institution’s Board.

The direct presence of the bank which has been active on the Hungarian market also to date will further increase the financial resources available to Hungarian businesses, and Budapest may become one of the most significant financial centres of the Central and Eastern European region, the Finance Minister observed.

Mr Varga described the relocation of the International Investment Bank’s headquarters to Budapest as one of the most important financial news items of the past year.

The financial institution’s management board adopted a decision on this last December, and the agreement may be signed as early as in January, the Minister informed the press.

Mr Varga also drew attention to the fact that an important factor behind the IIB’s decision was that Hungary has been one of the most stable states of the region for years.