In
Bulgaria banks are riskier than in Hungary? In what way?
Firstly because local banks in Bulgaria has like 1/100 of the capital compared to local banks in Hungary.
In Hungary you have access to old Austrian banks like Raiffeisen, Erste, Oberbank those are probably even safer than Hungarian ones.
In Bulgaria you have TBI, Texim, Municipal, Tokuda,
Eurobank, banks basically nobody ever heard about outside of Bulgaria.
The Hungarian OTP Bank has branches almost everywhere in Eastern-Europe.
We already seen that capital requirements in Hungary are strict and safe, when the Russian Sberbank stopped operating they were forced to payback customers all their money even above the insured 100.000 €, in Bulgaria who knows what would happen.
In Bulgaria AML is very strict because lots of past money laundering cases so the EU is watching them closely, they freeze accounts for very little things, in Hungary they might be strict about who can open an account but after I never heard about frozen cases.
I just don't see any difference between banks in Hungary and Bulgaria.
For 6 figures sure it's the same risk level, but 8 figures in Bulgarian banks no thanks, I like to sleep at night.
Also if you can recommend which bank in BG ? i assume in HU it's OTP... So is it the subsidiary of OTP in BG (DSK) ? thanks
The safest and biggest is yes probably DSK Bank, but it is still relatively small, the owner OTP bank can decide to sell it anytime.
Other than that probably the branches of international banks, like UniCredit or UBB Bank (KBC Group).
What Hungarian banks do you recommend?
The 2 biggest: OTP Bank and MHB Bank.
K&H Bank is big too (Belgium KBC group), or Austrian banks like Oberbank, Raiffeisen, Erste.
The new digital banks Granit Bank and MagNet Bank are okay too, but they got fined heavily because they let non-residents open accounts very easily, now they became more strict.