June 2026 – Issue 235
Global Securities
Services
Dear Partners and Friends,
This edition of our newsletter comes at a time when the securities services industry is navigating an increasingly complex and fast evolving landscape. As highlighted during this year’s Network Forum Annual Meeting in Paris, several key themes continue to shape our collective agenda: heightened geopolitical and market volatility, the rapid acceleration of artificial intelligence across post trade operations, the growing importance of digital assets and tokenization, and the ongoing drive towards European market integration and shorter settlement cycles. The transition to T+1 – and even early discussions around T+0 and real-time markets – underlines the pace of change and the need for continued collaboration across the industry.
At UniCredit, we remain fully committed to supporting our clients as they address both current and future challenges across Central and Eastern Europe. Our strong regional footprint, combined with deep local expertise, enables us to guide clients through regulatory change, technological transformation, and evolving market structures with confidence and consistency.
Beyond the insights and discussions, The Network Forum also continues to be a truly valuable platform for connection – bringing together our extended custody “family” in one place. It provides a unique opportunity not only to exchange ideas on the industry’s most pressing topics, but also to strengthen long-standing partnerships and build new relationships across the global custody community. We were particularly proud to see Julia Romhanyi contribute to an engaging expert panel on “What Comes Next? T+0 and Real-Time Markets”, sharing perspectives on the future direction of settlement and market infrastructure.
In this edition of our newsletter, we are pleased to bring you a diverse set of insights from across our CEE network. From Hungary’s spotlight moment hosting the UEFA Champions League Final, to Austria’s continued progress in strengthening financial crime prevention and supervision, to regional developments such as Bulgaria’s post-euro integration, Croatia’s credit rating upgrade, and Serbia’s launch of SEPA payments – our local specialists provide on-the-ground perspectives on the trends shaping their markets. You will also find updates on capital market development, regulatory initiatives, and ongoing digital transformation across the region.
As we approach the summer months, we would like to take this opportunity to thank you for your continued trust and partnership. We hope you enjoy this latest edition of insights from across our region – and wish you a relaxing and refreshing holiday season.
Client Solutions is a division of UniCredit Group and consists of UniCredit S.p.A., UniCredit Bank GmbH, UniCredit Bank GmbH London Branch, UniCredit Bank GmbH Milan Branch and other members of UniCredit Group. UniCredit Group and its subsidiaries are subject to regulation by the European Central Bank. UniCredit S.p.A. is regulated by Banca d’Italia and supervised by the Commissione Nazionale per le Società e la Borsa (CONSOB). In addition, UniCredit Bank GmbH is regulated by the Federal Financial Supervisory Authority (BaFin), UniCredit Bank GmbH London Branch is authorised and regulated by the Financial Conduct Authority (FCA), and UniCredit Bank GmbH Milan Branch is also regulated by Banca d’Italia and supervised by the Commissione Nazionale per le Società e la Borsa (CONSOB).
This publication is intended for marketing purpose only and it is published by UniCredit Group. Under no circumstances may the information contained in the published material be construed as an offer, recommendation, invitation to offer or promotional message for the purchase, sale or subscription of financial products. This marketing communication is directed solely at investment professionals and constitutes a “non-retail communication” for the purposes of the relevant rules.
© 2026 UniCredit S.p.A. - All Rights reserved
UniCredit
General Company Info
Privacy
Disclaimer
Accessibility
Final Whistle in Budapest
Budapest Welcomes the 2026 UEFA Champions League Final in a Celebration of Sport and National Pride
Exciting news in the world of sports was that Budapest hosted a UEFA Champions League Final, bringing one of the most important football events in the world to the heart of Hungary.
The Champions League Final is watched by millions of people globally and attracts visitors from across Europe and beyond. Its presence in Budapest reflected the city’s growing reputation as a top destination for major international events. The match took place on 30 May 2026 in the impressive Puskás Aréna, a modern stadium named after one of Hungary’s greatest sports legends.
Hungary
NAVIGATOR ARTICLE
NEWS
Slovenia
Serbia
Bulgaria
Romania
Hungary
Slovakia
Czech Republic
Trust Through Oversight
FATF Confirms Austria’s Progress in Strengthening Financial Crime Prevention and Supervision
Austria
Austria
Croatia
Rated for Growth
Croatia’s Record Credit Rating Highlights Strong Public Finances, Reform Momentum, and Investor Appeal
Croatia
Following its successful transition to the euro at the start of 2026, Bulgaria is now focusing on strengthening financial integration, improving market efficiency, and accelerating digital transformation across the banking sector. The stable macroeconomic environment continues to support this progress, with GDP growth projected in the range of 2.5 – 3% and inflation expected to gradually moderate to around 3 – 4% in 2026, following the elevated levels observed in previous years.
A key priority remains the preparation for the EU-wide T+1 settlement cycle, with Bulgarian institutions moving steadily from planning to operational readiness. Efforts are concentrated on enhancing automation, improving matching processes, and aligning market practices with European standards, contributing to a more efficient and resilient capital market.
At the same time, the banking sector is advancing its digital agenda, with continued investment in automation, real-time payments, and customer-focused solutions. The broader adoption of SEPA Instant payments is further improving transaction speed and accessibility in the fully euroised environment.
Early post-euro trends indicate positive momentum, with improved liquidity, stronger investor confidence, and increasing cross-border activity driven by the elimination of currency risk and deeper integration within the euro area. Nevertheless, the outlook remains subject to external risks, including global inflationary pressures, geopolitical uncertainty, and potential volatility in energy prices, which may impact the pace of economic convergence.
Beyond the financial landscape, Sofia comes alive during the spring season with vibrant cultural events and festivals, attracting both local and international audiences. Adding to the positive sentiment across Europe, the Eurovision Song Contest once again highlighted the region’s cultural diversity and strong public engagement.
Overall, Bulgaria continues to build on the successful euro adoption, reinforcing its position within the European financial ecosystem while maintaining a forward-looking approach.
Integration in Motion
Bulgaria Advances Post-Euro Integration with Focus on Efficiency and Innovation
Bulgaria
In March this year, S&P upgraded Croatia’s long-term sovereign rating from A- to A. With this positive move, Croatia has been awarded the highest credit rating in its history. Together with the recent positive review from Fitch, this rating action represents proof of confidence from global markets regarding Croatia’s political and economic stability. Furthermore, this rating is a notch above comparable Fitch and Moody’s ratings.
Croatia’s Prime Minister, Mr Andrej Plenković, welcomed this rating upgrade, describing it as a clear confirmation of Croatia's economic progress.
The rating upgrade further improves Croatia’s position as a reliable and attractive destination for international investors. Furthermore, the rating upgrade will reduce borrowing costs, further support investments, and help Croatia in closing the development gap with more advanced EU economies.
Key pillars of this positive rating action are political continuity and stability, since the parliamentary majority provides a stable framework for the continuation of reforms. Furthermore, an important factor influencing the rating upgrade is also Croatia's expected OECD accession, which will further improve the country's institutional and economic resilience.
S&P also pointed out current structural and investment programmes as important drivers of future economic growth. This is in particular related to programmes financed via the EU’s Recovery and Resilience Facility.
Furthermore, this upgrade also reflects responsibility in managing public finances, since Croatia is expected to maintain the budget deficit below 3% of GDP, and reduce public debt to around 56% of GDP, thanks to moderate fiscal deficits and robust nominal GDP growth. Current account deficits are financed by non-debt-creating inflows, such as EU grants and foreign direct investments. Fiscal discipline is expected to continue despite increased spending on defence, wages, pensions, social benefits, and investment programmes.
With 3.4% GDP growth last year, Croatia stands out as one of the top performers in the EU and CEE. Average annual GDP growth is projected at 2.7% between 2026 and 2029, as a reflection of continued investments, EU funding, and stable domestic demand.
Back in 2016, Croatia was below investment-grade rating. Since then, the country has improved its credit rating by six levels, first returning to investment-grade rating in 2019.
The Central Securities Depository Prague (CDCP) is implementing a series of changes in preparation for the transition to the T+1 settlement cycle, effective November 2026. The adjustments are designed to improve intraday processing capacity and align with the shorter settlement horizon.
A key operational change is the extension of the final settlement cycle from 13.00 to 15.00 CET. At the same time, settlement cycles that are currently processed hourly will move to 30-minute intervals, increasing processing frequency and flexibility throughout the day. Such improvement is making the processing quite close to real RTGS.
CDCP will be ready to accept settlement instructions already on SD-1 with the cut-off on settlement date (SD) extended until 23.59 CET.
These enhancements are intended to support higher settlement efficiency, reduce operational risk, and ensure that market participants can operate effectively under the T+1 regime.
Ready for T+1
CDCP Introduces Operational Changes to Support the Transition to T+1 Settlement
Czech Republic
One of UniCredit Hungary’s most pleasant and distinctive advantages has always been the location of its headquarters. We can confidently say that today we are truly in an exclusive position compared to our competitors: we work in the heart of the city, in a building of historic significance, where we have proudly welcomed our clients as well. As time has passed, however, the moment has come for this exceptional place to be renewed – while preserving its original values. We are pleased to share an update on the modernization and revival of this remarkable building.
Originally constructed between 1937 and 1939 as the headquarters of the Centre for Financial Institutions, the building is one of the outstanding examples of Hungarian modern architecture. Much of its original character has been preserved, and today the property enjoys protected heritage status.
Designing a headquarters is always a complex challenge – especially in a listed building. In addition to respecting strict heritage requirements, the project team set the ambitious goal of achieving a high-level environmental certification. The key challenge has been to integrate modern workplace needs into an existing historical structural framework while still creating a contemporary, top-quality workspace that reflects UniCredit’s values.
By removing enclosed corridors and outdated office partitions, the interior has been transformed into an open, refreshed space that highlights the building’s remarkable adaptability and potential. Its prime downtown location and stunning views further enhance its appeal.
Major enhancements include new height adjustable desks, ergonomic seating, and state-of-the-art audio-visual technology seamlessly integrated into meeting room furniture – fully supporting hybrid work. The project demonstrates how smart design, high-quality materials, and meticulous craftsmanship can result in a truly remarkable transformation. The outcome is a bright, spacious, stylish, and highly adaptable office environment.
A particular favorite among colleagues is the redesigned 8th floor café – now a welcoming, multifunctional space for conversations, coffee breaks, and work sessions, framed by panoramic views of the Buda hills.
The move into the renewed headquarters is happening in carefully coordinated phases, ensuring a smooth transition without disrupting daily operations. Early reactions from colleagues have been overwhelmingly positive – they especially value the airy, light filled interiors, improved ergonomics, and the inspiring atmosphere created by the harmonious blend of heritage and contemporary design.
We are very much looking forward to sharing this renewed space not only with our teams but also with our valued clients. We hope to welcome you soon to our revitalized headquarters, where heritage, innovation, and comfort come together to create an outstanding experience.
Revitalizing Heritage
UniCredit Hungary Unveils Modernization of Historic Headquarters to Enhance Client Experience
Hungary
As of 5 May 2026, SEPA (Single Euro Payments Area) payments are fully operational in Serbia, marking a significant milestone in the country’s integration into the European financial ecosystem. The National Bank of Serbia (NBS) confirmed that the domestic banking sector is now technically and operationally ready to execute cross-border euro payments under the SEPA Credit Transfer scheme, aligning Serbia’s payment infrastructure with advanced EU standards.
The implementation enables both retail and corporate clients to send and receive international payments more efficiently through their commercial banks, while SEPA transactions for budget users are facilitated directly by the NBS. A total of 18 banks in Serbia are participating in the scheme, ensuring broad accessibility of SEPA services across the market.
For clients, the introduction of SEPA payments brings several tangible benefits, including faster execution of cross-border transactions, significantly reduced and more transparent fees, and enhanced reliability due to standardized processing rules. At the same time, businesses will benefit from simplified international operations, enabling easier integration into European supply chains and more efficient trade with EU partners, while individuals will experience a more seamless process when transferring funds abroad.
This milestone reflects years of coordinated efforts between the NBS, the banking sector, and international partners, demonstrating Serbia’s commitment to modernizing its financial system and strengthening economic ties with the European Union. Looking ahead, further development of payment services is expected to continue, with a focus on improving efficiency, security, and accessibility across the financial landscape.
Connected by SEPA
Serbia Enters a New Phase of Financial Integration with the Launch of SEPA Payments
Serbia
Slovakia has met the criteria for inclusion in the global government bond index FTSE World Government Bond Index (FTSE WGBI), as confirmed by FTSE Russell in its semi‑annual review.
In September 2025, all objective index inclusion criteria for market size, credit rating and a minimum Market Accessibility Level of “2” were met, paving the way for its entry into the world’s most prestigious government bond benchmark. This achievement is the result of sustained efforts by the Debt and Liquidity Management Agency (ARDAL), which has systematically worked to enhance the liquidity, transparency, and accessibility of the Slovak government bond market for international investors.
FTSE WGBI is the largest and most closely followed global government bond index, representing more than USD 3 trillion in assets, and Slovakia’s inclusion reflects the growing size and liquidity of its domestic government bond market, as well as its credit quality, rating, and accessibility for foreign investors.
FTSE Russell announced that Slovakia will be added to the index as of June 2026, which will also trigger its inclusion in derived indices, including the FTSE European Government Bond Index.
This represents a significant milestone that opens access for Slovakia to extensive global capital flows it could not previously reach. Increased demand and higher liquidity in the government bond market are expected, along with growing interest from passive funds and ETFs that replicate the index. For many funds mandated to invest according to WGBI, an immediate mechanical demand for eligible Slovak bonds will arise, which may contribute to tighter spreads and broader investor participation.
This development will support the stability of the domestic market while creating room for cheaper government financing. By joining the FTSE WGBI, Slovakia becomes a fully integrated participant in global capital flows and strengthens its position in international financial markets.
Authored by: ARDAL
(Debt and Liquidity Management Agency of the Slovak Republic)
A Global Benchmark
Slovakia’s Entry into the FTSE WGBI Strengthens Its Position in International Financial Markets
Slovakia
Slovenia
Finance in Focus
Slovenia’s 2026 Financial Industry Conference Highlights Key Trends in Treasury, Custody, Investment Banking, and Asset Management
INTRODUCTION
NAVIGATOR ARTICLE
NEWS
We were particularly proud to see Julia Romhanyi contribute to an engaging expert panel on “What Comes Next? T+0 and Real-Time Markets”, sharing perspectives on the future direction of settlement and market infrastructure.
In this edition of our newsletter, we are pleased to bring you a diverse set of insights from across our CEE network. From Hungary’s spotlight moment hosting the UEFA Champions League Final, to Austria’s continued progress in strengthening financial crime prevention and supervision, to regional developments such as Bulgaria’s post-euro integration, Croatia’s credit rating upgrade, and Serbia’s launch of SEPA payments – our local specialists provide on-the-ground perspectives on the trends shaping their markets. You will also find updates on capital market development, regulatory initiatives, and ongoing digital transformation across the region.
As we approach the summer months, we would like to take this opportunity to thank you for your continued trust and partnership. We hope you enjoy this latest edition of insights from across our region – and wish you a relaxing and refreshing holiday season.
the continual strengthening of the external position as a result of inflows based on foreign direct investments, as well as the continuation of the downward trajectory of the share of public debt in the gross domestic product, despite higher state capital expenditures
UniCredit Bank continues to demonstrate its commitment to community development through initiatives that connect people, foster knowledge exchange, and empower young talent.
By participating in the Vision Days conference, the Bank supported the IT community and created a platform for discussions on the latest trends in cybersecurity and technology, emphasizing the importance of continuous learning and collaboration.
Through the BH Professionals Meetup, organized in partnership with BH Professionals and with the support of the Bosnia & Herzegovina Futures Foundation, the network of professionals was further strengthened and young leaders were supported. Special emphasis was placed on the 3-Minute Thesis Bosnia and Herzegovina project, which enables young people to present their ideas to a wider audience and develop key communication skills.
UniCredit Bank also hosted the AmCham BiH Leader Roots session, where leaders and young managers discussed organizational agility and resilience in modern business.
Through these activities, UniCredit Bank clearly demonstrates that social responsibility is not just a principle, but an active investment in knowledge, people, and the future of the community.
Social Responsibility through Knowledge and Connection
UniCredit Bank Strengthens Community Development Through
Knowledge Sharing and Youth Empowerment
Bosnia Herzegovina
A strong regulatory environment is not just about compliance – it is a key driver of trust, market stability, and investor confidence. Austria has now received a notable international endorsement in this respect.
The latest Mutual Evaluation by the Financial Action Task Force (FATF) confirms substantial effectiveness in financial sector supervision, representing one of the strongest outcomes in the current assessment cycle. This rating reflects a material strengthening of Austria’s AML / CFT framework since the last evaluation, including more advanced, risk-based supervision and improved transparency standards. A key contributor to this progress is the enhanced supervisory approach of the FMA.
The FATF highlights its data-driven and risk-focused oversight, which is increasingly shaping how financial institutions manage and mitigate financial crime risks in practice. From a market perspective, this is a meaningful signal. It underlines Austria’s position as a jurisdiction where regulatory expectations are not only clearly defined but also effectively applied, strengthening both operational certainty and reputational resilience for market participants.
At the same time, the report provides a balanced view. While significant progress has been achieved, further improvements are expected in areas such as money laundering investigations, asset recovery, and cross-sector consistency in supervision. This reflects an important reality: financial crime risks continue to evolve, and so must regulatory and institutional responses.
For clients, the overall takeaway is positive. Austria combines a solid and improving regulatory framework with increasing supervisory effectiveness, creating a reliable environment for custody and capital markets activities. UCBA continues to align its control framework with these developments, ensuring that clients benefit from a custody setup built on strong governance, transparency, and consistent regulatory adherence.
The Bank Association of Slovenia organized its regular annual conference for the treasury, custody, investment banking, and asset management industries. The conference was held on 9 April at the InterContinental Hotel in Ljubljana. The conference covered various topics related to financial markets, such as the macroeconomic environment and an overview of current developments in global capital markets, treasury activities, regulatory developments, the T+1 settlement cycle, the impact of AI on financial markets, and the challenges of the implementation of Individual Investment Accounts.
Key Topics and Discussions
1. Macroeconomic Environment and Interest Rates
2. Liquidity Management and Treasury
3. Back Office and Custody Services
4. Investment Banking
5. Asset Management
6. Technology and Digital Transformation
7. Regulation and Compliance
Bosnia Herzegovina
Zaba remains committed to supporting arts, culture, education, and sports as essential parts of community development. Through partnerships and sponsorships, Zaba ensures broader access to cultural experiences and supports initiatives that foster inclusion, sustainability, and positive social change.
Sports and physical activities are also strongly supported as key drivers of physical and mental health, especially among younger generations.
In times of crisis, Zaba also uses its infrastructure and expertise to support communities – standing by its promise to be a reliable partner not just in finance, but in life.
Well-being Focus Week was more than a series of events – it was a reminder that well-being is a continuous journey.
One that begins with self-awareness, grows with shared support, and blossoms when we take care of our body, mind, and each other.
Here’s to a healthier, happier, and more balanced Zaba!
On April 25, 2026, the Financial Supervisory Authority (FSA) signed a Memorandum of Understanding in Slovenia together with regulators from Slovenia, Croatia, Poland, Hungary, Bulgaria, Slovakia, and North Macedonia to strengthen cooperation in capital market regulation and supervision. The agreement aims to improve coordination, align regulatory practices, and support regional market development through enhanced collaboration and knowledge exchange. It reflects a shared commitment to capital market integration in Central and South-Eastern Europe. The FSA reaffirmed its commitment to actively contribute to this initiative and to further increase the attractiveness of Romania’s capital market. – According to the FSA Press Release on April 25, 2026.
On April 23, 2026, the Financial Supervisory Authority (FSA) leadership met in Bucharest with European Commissioner Maria Luís Albuquerque to discuss recent developments and strategic priorities for strengthening EU capital markets. Talks focused on ongoing legislative initiatives, particularly the Market Integration Package (MIP), aimed at improving efficiency and integration of European financial markets. The FSA highlighted the need for clear, consistent, and practical regulations, while balancing EU integration goals with local market specifics. Discussions also covered promoting savings and investment, the role of fiscal frameworks, and the importance of coordinated financial education efforts across the EU. The FSA reaffirmed its commitment to supporting EU financial initiatives through active engagement and technical expertise. – According to the FSA Press Release on April 23, 2026.
Romania reached an important milestone in its OECD accession process by receiving the 24th out of 25 required formal opinions from the OECD Investment Committee, confirming a strong, transparent, and predictable investment environment. The Financial Supervisory Authority (FSA) contributed to this achievement through regulatory measures in the non-banking financial sector, supporting a stable and investor-friendly framework aligned with international standards. Key progress includes expanded investment options for private pensions and improved access for foreign insurance intermediaries. The FSA reaffirmed its commitment to supporting OECD standards and fostering a competitive financial environment attractive to both local and international investors. According to the FSA Press Release on April 3, 2026.
Integration Forward
Romania Strengthens Regional Financial Cooperation While Supporting EU Market Integration and OECD Progress
Romania
Topics were as follows:
Self-image and Building Confidence – Understanding how teens perceive themselves and how parents can help them develop a positive and realistic self-image.
The Role of Parents in Learning – Exploring how parents can support their children’s education in a constructive way and collaborate effectively with schools.
Developing a Healthy Online Presence – Addressing the darker sides of the internet and social media, and how parents can help their children navigate the digital world safely and confidently.
Building Psychological Resilience After Failure – Teaching both parents and teens how to recover from setbacks and build inner strength.
All three speakers are accomplished psychologists, professors, and authors with decades of experience in education and child development.
Community support is a large part of the Well-being Focus period at Zaba, a key aspect of that is multiple volunteer activities the bank has organized which also encourage the development of togetherness and collegiality for Zaba employees. Volunteer activities are also organized often, all year long and all employees can find their niche and area of interest.
Finally, Zaba proudly supports UNICEF’s “Supportive Schools” program, which equips teachers and school staff with the tools to promote mental health among students. Through workshops, children and adolescents learn how to manage stress, cope with emotions, and build resilience.
As part of this initiative, Zaba will include a UNICEF donation flyer with client statements in May, inviting all clients to support this important cause.
how the modern financial system operates
which decisions lead to smart saving and investing
how to responsibly build personal financial development
the most important lessons from banking practice
Understanding mental health is essential to preserving it. It’s not about perfection, but about maintaining a positive outlook, self-awareness, self-esteem, and the ability to manage challenges with optimism. Good mental health empowers us to adapt, learn, and grow through everyday experiences, relationships, and change.
Zaba emphasized this by offering free psychological counselling and by encouraging employees to take part in resilience training and mental health talks – reminding everyone that it’s okay to seek help before small worries become big problems.
Furthermore, the activities continued with lectures for women employees to give them support during the period of perimenopause and menopause. The lectures were given by accomplished psychologists who were open to all kind of questions and advice for our women colleagues.
Lectures were also organised for parents of teens.
Parenting teens can feel like an impossible mission. To help navigate this challenging period, Zaba introduced the TEENspiration lecture series – a set of online talks from February to May focused on strengthening parent-child relationships.
Feeling at peace when leaving work and returning stress-free.
Maintaining balance – feeling physically healthy, emotionally stable, and content in both personal and professional life.
A deep sense of inner calm and being satisfied with oneself and one’s surroundings, regardless of external circumstances.
Respecting oneself and others, honouring both body and soul, and living in gratitude rather than fear.
Achieving harmony in all aspects of life – physical, emotional, mental, social, and professional.
Mental health as the foundation of overall well-being.
For Zaba’s team, well-being goes far beyond physical health. It means:
Click on the plus symbol for further details
Click on the arrows for further details
UniCredit has been certified as a Top Employer 2026 for the tenth consecutive year, with UniCredit Bank Austria and UniCredit entities in Bosnia & Herzegovina (Mostar), Germany, Italy, Romania, Serbia, and the Group’s branch in Poland all receiving the recognition. The certification highlights the Group’s strong people strategy, commitment to diversity and inclusion, and focus on building an engaging work environment that supports continuous learning – values that directly benefit collaboration across GSS markets.
In Austria, UniCredit Bank Austria was praised for its comprehensive HR initiatives, flexible working models, and dedication to employee development and wellbeing. These strengths reinforce UniCredit’s ability to maintain stable, motivated teams – an essential foundation for delivering reliable, high‑quality support to our GSS partners and clients across the region.
UniCredit Bank Austria Named “Top Employer 2026” Across CEE and Europe
HIGHLIGHTS
Deputy Global Head of Securities Services
Author
Sven Trahan
Uncertain macroeconomic conditions (slowing growth, geopolitical risks)
Role of central banks in controlling inflation
Impact of interest rates on financing
Importance of liquidity and interest rate risk management
Hungary has a rich and fascinating football history that continues to shape its identity today. In the 1950s, the Hungarian national team, known as the “Mighty Magyars,” was considered one of the best teams in the world. They were admired not only for their success but also for their innovative style of play, which influenced modern football tactics.
One of their most famous achievements was defeating England 6 – 3 in London in 1953, a historic result that surprised the football world. The team also won the 1952 Olympic gold medal and reached the 1954 World Cup final, leaving a lasting legacy. At the heart of this golden generation was Ferenc Puskás, whose name is now synonymous with Hungarian football excellence.
Later in his career, Puskás moved to Spain, where he played for Real Madrid and became an international star. He won multiple league titles and European Cups, helping establish Real Madrid as one of the most successful clubs in football history.
Today, while the sport has evolved, the passion for football in Hungary remains strong. Hosting the Champions League Final was a proud moment that connected Hungary’s historic achievements with the present. It also offered visitors a unique opportunity to experience Budapest’s culture, hospitality, and vibrant atmosphere during a major international event.
Need to optimize liquidity buffers due to higher funding costs
Use of advanced analytics and automation
New approaches to collateral management
Digitalization as a key priority (automation, STP)
Regulatory changes (EMIR, MiFID, ESG reporting) driving transformation
Focus on operational risk management and cybersecurity
Transition to the T+1 settlement cycle
Lower activity compared to previous record years
Increased selectivity in deals
Focus on structured products and M&A advisory
Growing importance of sustainable finance
Shift toward personalized investment strategies
Increasing importance of alternative investments
Use of AI and data analytics in portfolio management
Strong emphasis on ESG criteria
AI, blockchain, and digital assets as major disruptors
Development of central bank digital currencies (CBDCs)
Bank–fintech partnerships
Stronger supervision and transparency requirements
Integration of ESG disclosures
“Compliance by design” in business processes