CIB Bank ATM SZEKSZÁRD

The founding predecessor of the present Central-European International Bank Ltd. was established in Budapest on November 9, 1979, under the same name as an offshore-like dollar based bank. It started its operation on January 1, 1980. Apart from the National Bank of Hungary, the shareholders of the bank included leading European and Japanese banks. CIB started its business with an authorized and paid-up capital of USD 20 million, and conducted it in a geographically neutral manner, influenced only by business considerations. CIB was registered under the Hungarian Company Law of 1875, subsequently replaced by the Company Law of 1988. On the basis of the operating licence, the bank performed transactions in convertible currencies only. The customers of the bank gradually included more and more Hungarian companies and organisations making use of the services of the bank subject to the licences of the foreign exchange authorities.