Garantiqa Hitelgarancia Zrt.

Kisfaludy u. 32
1082 Budapest

+36 14440100
+36 14440290

In order to promote small and medium-sized businesses’ development and competitiveness by improving their access to finance, the government of Hungary and major representatives of the financial community, including commercial banks, savings co-operatives and professional interest representation organisations established a joint-stock company under the name Creditguarantee Ltd. in 1992. The company’ primary function is to provide guarantees for the loans granted to small and medium-sized companies. These guarantees help to reduce the lending risks of credit institutions, which in turn, can grant loans under better terms and conditions and at lower collateral requirements. The objective of the founders of the company is to utilise its share capital for the above purposes.

 The company expanded its operations in 2006 by providing guarantees to support the access of SMEs to factoring and financial leasing services provided by credit institutions and financial companies for production equipment purchases.

Garantiqa Hitelgarancia Zrt. was the first guarantee institution in Hungary to receive the Hungarian Financial Supervisory Authority’s Resolution of Equivalence, in December 2007. Pursuant to this, Garantiqa Hitelgarancia Zrt.’s risk management practices are considered equivalent to the risk management requirements applied to banks.

Pursuant to the resolution of the company’s General Meeting of April 11, 2008, the company’s name was changed to Garantiqa Hitelgarancia Zrt. and the company adopted a new corporate identity.

The shareholders of the company increased the share capital with HUF 3,028 million so the equity was increased up to HUF 7,840 million. In order to transfer the benefits originated from the capital increase reduced the fees of guarantees counter-guaranteed by State.Based on the Budget Act and an authorisation from the shareholders, the company may provide guarantees for non-subsidised transactions at its own risk.

In 2017 the company joined the COSME LGF program in order to widening the company’s product range and counter guarantee possibilities.

In its 27 years of operation, Garantiqa has provided guarantees in relation to a total loan volume of 5,700 billion forints, under 430,000 contracts.

Year of creation
individual entities or association
Type of organization
National Promotional Bank (NPB), National Promotional Institution (NPI), Private, Mutual, Mixed
Type of scheme
guarantee or counter-guarantee
Product typology
guarantee or counter-guarantee or co-guarantee
i.e. fully mutual, funded by SMEs, banking associations, fully public, fully private, private-public, mixed models
Private-public mixed models
Shareholder structure
Private / Public (in %)
22,4578 % private,77,5422 % public
Legal form
of single guarantee entity or association: i.e. fund, development bank, development agency, cooperative or mutual societies, bank, foundation, association, limited company, etc.
Closed Co. Ltd, by shares
Structure / Network
i.e. central scheme with regional offices, central scheme only, association network
Central scheme only
Geographic coverage
i.e. local, regional, national
Sectorial focus
i.e. agriculture, industry, crafts, retail, liberal professions, cooperatives, etc.
No special sectorial focus
Size of businesses supported
i.e. large companies, SMEs, micro-enterprises, independent/self-employed
SMEs, Micro-enterprises, Independent/Self-employed
Supervision statute
i.e. mono-product banking licenses, financial intermediary statute, non-supervised. For associations, please state statute of members
Financial intermediary statute
Profit / Non-profit oriented
dividends to public shareholders are not considered as profit orientation
Non-profit oriented
Do you benefit from a counter-guarantee at local, regional or national level?
Local level or Regional level or National level
National level - Hungarian State
Are you/your members financial intermediary for EU-programmes?
CIP/COSME or Structural funds or Progress or RSI/RSFF Horizon 2020
Types of guarantee products provided by your organisation/your membersLoan default guarantees, Working capital loan guarantees, Leasing guarantees, Project guarantees, Overdraft guarantees, Investment loan guarantees, Factoring guarantees, Bank guarantees, Frame guarantees
Other SME support instruments offered by your organisation/your members
Subsidized loans or Mezzanine financing or Venture capital or Coaching or Mediation services
Is the activity subject to state aid regulation?Yes
Do you (your members) use..?
De minimis or GBER or Regional guidelines or Notification
De minimis, GBER and Notification
Do you (your members) dispose of an internal rating/scoring system?Yes
Do your guarantees provide deponderation (capital relief) for member banks subject to capital requirements (Basel agreement)?Yes
Do you (your members) benefit of a public counter-guarantee that allows deponderation (capital relief)?Yes