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Hungarian Development Bank
Founded
1991
Services
Banking
Owner
Government of Hungary
Hungarian Development Bank Private Limited Company or Hungarian Development Bank, in short (Magyar Fejlesztési Bank Zártkörűen Működő Részvénytársaság, Magyar Fejlesztési Bank, in short) (MFB Zrt.), is a credit institution fully owned by the government of Hungary.
Hungarian Development Bank (HDB)'s legal status, tasks, and scope of activities are defined in Act XX of 2001 (the MFB Act), its Memorandum of Association, and the strategy approved by the Hungarian Parliament and Government. Its core tasks include the provision of funding for growth under favorable terms and conditions to Hungarian enterprises, supporting the long-term development objectives of the state, and obtaining funds from money markets for these purposes.
HDB has been receiving individual international credit ratings from Moody's Investors Service since 19 May 2003.
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