This is how much the wealthiest Hungarians earned during the pandemic

Assets in private banking services have reached over 6500 billion HUF (18,128,140,523 EUR) thanks mainly to the market recovery that followed the coronavirus crisis in the spring. The average asset of client accounts has also reached a new record with 144 million HUF (401,625 EUR), but the sector did not get many new clients.

Portfolio conducted its six-month survey on private banking services. 15 Hungarian private banking provider participated in the survey – excluding Bank Gutman and MKB Bank, which were calculated by a 2.5 % growth.

As the survey results suggest, the richest Hungarians were not negatively affected by the coronavirus, what is more, the total assets in private banking services have reached over 6500 billion HUF (18,128,140,523 EUR). This means more than a 7 % increase in six-month, and more than 11 % increase in a year. Assumedly, the growth is a result of the positive appreciation of investments.

The assets have increased even by accounts. By December, the average asset per account was over 144 million HUF (401,625 EUR), reaching a new record number.

Based on calculations, Gutman has the highest asset average per account with 820 million HUF (2,287,097 EUR). MKB private banking could be in second place with the average of 370 million HUF (1,031,983 EUR), while Hold, Concorde, Raiffeisen and Erste are all somewhere over 200 million HUF (557,828 EUR).