SIA-SSB’s Hungary Hub Looks Towards Eastern Europe

SIA-SSB plans to consolidate its international expansion strategy and is increasingly looking to new markets with high growth potential in central and eastern Europe. Through its subsidiary GIRO Bankkàrtya ZRt (GBC), the Italian group wants to create a hub in Budapest to serve the entire Balkan region with services relating to credit and debit cards, payments, capital markets and networks. SIA-SSB’s CEO, Renzo Vanetti, commented: “Our presence in Hungary is part of a wider strategy of European expansion. Indeed, in a sector becoming increasingly competitive due to the convergence of the banking and financial industries, international expansion represents not only an advisable route, but also one that is necessary.”


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