Granit Bank , a Hungary-based digital bank, has announced it will begin operations in Romania, its first foreign market, in Q3 of 2024. Granit Bank will begin operations in Romania starting Q3 of 2024.

This marks the first time the digital bank is entering a foreign market. The digital bank will offer clients accounts in lei and forints through an app available in Romanian, Hungarian, and English. The financial entity has been registered to provide services by the central banks of Hungary and Romania.

The company has a total of 200,000 users in Hungary and is the eighth-largest universal bank in the country, with total assets of EUR 3.56 billion. Granit Bank’s officials stated that the dynamic growth in recent years has provided a stable foundation for international expansion with innovative and flexible services. The digital bank, dubbed the Hungarian Revolut, was founded in 2010 to help local SMEs recover from the global financial and economic crisis.

It was one of the first banking institutions in Hungary to adopt digital services. In 2021, Hungarian real estate holding BDPST purchased a 57% stake in Granit Bank, according to Reuters. The majority stake was bought from a Hungarian consultancy firm controlled by Granit Bank's president and CEO.

What does Granit Bank do? Granit Bank, based in Hungary, specialises in digital and online banking services for both individual and corporate clients. It offers a range of products including savings and current accounts, debit and credit cards, personal loans, mortgages, and investment services. For businesses, the bank provides tailored solutions such as corporate accounts, loans, and treasury services.

Known for its digital innovation, Granit Bank's robust online and mobile platforms enable customers to manage accounts, perform transactions, and access financial services with ease. The bank focuses on leveraging technology to enhance customer experience and streamline operations. .