PRESS RELEASE

Banking Blood Donors’ Month: The Hungarian banking sector comes together for the seventh time

More than 1 600 persons from the Hungarian banking sector have registered for this year’s Banking Blood Donors’ Month, organised for the 7^th time by the Hungarian Banking Association in co-operation with the National Blood Transfusion Service and the Hungarian Red Cross.

Each year, more and more people from the banking sector join the programme, including the Senior Management and Staff Members of the National Bank of Hungary (MNB), which clearly shows that the sector’s community is committed to social responsibility and considers it important to offer tangible help to those in need. This year, the ‘7^th Good Deed Bank – Banking Blood Donors’ Month’ event, running from 5 to 30 October, will take place at twenty locations in Budapest and at two venues in the countryside. Banking sector employees may take part in on-site blood donation sessions in the buildings of various financial institutions as well as at blood transfusion centres.

Today’s opening event of Banking Blood Donors’ Month was hosted by MagNet Bank. ‘As a community bank, we consider it only natural that, in addition to offering banking services, our head office and branches should also serve to protect the health of local communities,’ explained Zsolt Fáy, Chairman of MagNet Bank. ‘To this day, we have organised more than sixty blood donation sessions at our head office, and by the end of 2026 we will have installed defibrillators available round the clock at all 28 of our branches, so that anyone can quickly access this life-saving device if necessary.’

‘Blood donation, just like the banking system as a whole, is about stability and trust,’ said Norbert Izer, Executive Director of the National Bank of Hungary. ‘In the case of blood donation, it is about trusting our fellow citizens, who give their time and blood for the benefit of others’ health, and the healthcare institutions responsible for our recovery. And in the banking sector it is about trusting our bank, because it always duly executes our financial instructions. Thank you to everyone who supports the noble cause of blood donation in Hungary.’

The programme’s technical co-ordinator is the National Blood Transfusion Service (OVSZ), and the Hungarian Red Cross is also involved in organising the event. During blood donation sessions, a single donor can contribute to the recovery of up to three people, as the blood collected can be used to produce various blood products. ‘The banking sector is fully aware that being secure requires adequate reserves, and the same applies to blood stocks’ - explained Dr Sándor Nagy, Deputy Director General responsible for Professional Affairs at the National Blood Transfusion Service. ‘Banking Blood Donors’ Month has now been mobilising the financial sector for seven years, and it is heartening to see that more and more people join the initiative each year. We wish to express our gratitude for the nearly 1 500 blood donations made during this campaign, also on behalf of those in need of blood products.’

As Radován Jelasity, President of the Hungarian Banking Association explained: ‘There are some things it is good to compete in, while there are others where it is better to work together. Blood donation clearly falls in the latter category: this year marks the seventh time the domestic banking sector has come together for a cause where every single participant can make a real difference. A lot has changed around us over the past seven years, but the enthusiasm with which the banking community time and again stands by this initiative has not. I am proud to say that ‘Banking Blood Donors’ Month’ has now become a joint cause on which we all agree, and where we stand united as a single community.’

Levente Kovács, Secretary-General of the Hungarian Banking Association, added: ‘A country’s strength is demonstrated not only by its economic performance, but also by the extent to which its people are able to come together and take responsibility for one another. During Banking Blood Donors’ Month, the Hungarian banking sector demonstrates year after year that social responsibility is not simply a corporate value, but a shared cause and a joint responsibility. The power of co-operation can therefore also serve as a positive example for other sectors and larger communities, as it shows that when members of a community dedicate their time and energy to others, it has a real, tangible social impact.’

The additional blood supply provided by the staff members of financial institutions during Banking Blood Donors’ Month ensures that blood supplies are available without interruptions even during the autumn break. The banking sector’s collective effort helped save more than 4 000 lives last year.

At the programme’s opening event, the Hungarian Banking Association presented the Grand Prize of Honour, established to recognise exceptional individuals and institutions who have created lasting value through their outstanding achievements in economics or other academic fields, as well as through their dedicated work. This year, the Grand Prize of Honour was awarded to Erik Bogsch, Honorary Chairman for Life of Richter Gedeon Plc., for his pivotal role in the development and international success of the Hungarian pharmaceutical industry.

BACKGROUND

Members of the Hungarian banking sector, under the auspices of the Hungarian Banking Association, established the ‘GOOD DEED Bank’, the joint CSR programme of the banking sector, during the Covid pandemic, which was recognised in 2021 through MasterCard’s ‘Social Initiative of the Year’ Special Award. One of the programme’s key events is ‘Banking Blood Donors’ Month’, thanks to which staff members in the Hungarian banking sector have helped patients recover by donating nearly ten thousand units of blood in recent years.

Hungarian Banking Association, Budapest, 6 October 2026

The Hungarian Banking Association held its annual General Meeting earlier today, at which Mihály Varga, Governor of the Central Bank (National Bank of Hungary) and András Kármán, Minister of Finance, both delivered speeches. At the event, President Radován Jelasity delivered his report, informing participants about the organisation’s activities and responsibilities. At the General Meeting, the Hungarian Banking Association held a general election of officials, electing a new Board, Supervisory Board and Chair for the Ethics Committee.

At the General Meeting, Members voted for issuing the following statement.

The parliamentary elections have ushered in a new era, bringing a distinctive 16-year period to a close. It often happens at the end of long cycles fraught with extraordinary challenges that regulatory intervention swings too far in the opposite direction, similarly to a pendulum. This has been the case once again. For the economy to function in a sustainable and healthy manner, it is desirable for the pendulum to return to its central position; letting market forces to prevail; and for interventions to be proportionate and predictable.

The financial sector remains a partner in shaping a predictable economic environment that is independent of electoral cycles, and in preparing and executing feasible decisions. This can add to investor confidence, encourage investment and contribute to the sustainable growth of the economy, thus helping boost social well-being. A banking sector operating within a stable regulatory and market environment acts as the economy’s immune system, safeguarding growth and stability. If this is lacking, the reverse impact is felt almost instantly: legal uncertainty distorts market conditions, restricts lending and substantially weakens the banking sector’s role in safeguarding the economy. This is one of the reasons why we consider it of fundamental importance to be able to set a transparent, pre-set road map for phasing out the extraordinary taxes imposed on the financial sector. The banking tax, the windfall tax and the transaction levy temporarily helped maintain fiscal stability during difficult periods. However, their continued existence does more harm than good: it curbs lending, distorts market processes and undermines not only the sector’s competitiveness but also the functioning of the economy. At the same time, interest rate caps, mandatory ATM installation and similar measures directly interfere with market competition, undermine financial culture and erode confidence in the Hungarian economy. Moreover, the regulatory treatment of the banking sector serves as a litmus paper for the entire economy, as whatever happens in the financial sector today, be it a windfall tax or an interest rate cap, may well be reflected in the functioning of other sectors a few years down the line.

Strengthening European integration and the promise of adopting the Euro could inject new dynamism into the entire Hungarian economy, as the EU and neighbouring countries are our key natural partners in both economic and political terms. The introduction of the Euro is a strategic decision that could create a persistently lower and more predictable interest rate environment in Hungary.

The financial sector is calling on the new Government to ensure a level playing field and allow market forces to freely prevail. Pure market competition yields the most sustainable results for stakeholders present in the financial and economic sectors: this reflects innovation and efficiency. Equal competitive conditions yield the best quality and the most favourable prices for customers.

The prevalence of market forces, alongside various forms of support, can also promote a more efficient allocation of resources, reduce budgetary pressures and, in the long term, support a more balanced, organic path of economic development. Government loan schemes can only be regarded effective if they complement market-based funding options, are aligned with their way of operation, and their scale does not cause any significant distortion of market demand and supply. Support programmes aligned with electoral cycles may also trigger economic impacts that work against their intended objectives. By contrast, a more targeted and predictable support/subsidy strategy creates a more stable and predictable economic environment for customers, investors and financial institutions alike. Experience from our region, as seen in Slovakia, Slovenia and Croatia, shows that, upon joining the monetary union, lending rates gradually converge towards the Eurozone average, whilst exchange rate and inflation volatility subside. This, in turn, indirectly improves the affordability of housing, without the need for significant budgetary intervention. In the meantime, it is justified to maintain a targeted housing subsidy scheme. As for SME lending, it is advisable to set the most optimal ratio for the economy between market-based and subsidised loan schemes based on professional consensus.

A competitive economy rests on modern, digital financial infrastructure and a predictable legal environment. When it comes to digital banking, it makes sense to build on the EU’s best practices: to simplify the sharing of data accessible in public databases; as regulation that is both secure and flexible, along with the development of digital customer journeys all improve customer experience and boost competition. The banking sector, just as in the past, will continue to be a partner in shaping an ideal and easy-to-apply regulatory environment.

The banking sector is ready to play an active role in this new phase of economic growth. One prerequisite for this is that the economic policy ‘pendulum’ should remain close to a balanced mid-point in the long run, creating an economic policy environment that is predictable, competition-neutral and rests on natural market mechanisms. We trust that the new Government will support the establishment of such a regulatory environment, which serves both sustainable economic growth and financial stability. We also wish to take this opportunity to congratulate the new Government on its formation, and wish them every success in achieving our common economic goals.

At the General Meeting, awards and honours were also presented, reflecting the results achieved in the past year.

The Golden Beehive Award was presented to:

• Zénó Amtmann – OTP Bank
• Anita Deák – National Deposit Insurance Fund
• Marianna Drevenka – UniCredit Bank
• Dávid Hollósi – MBH Bank
• Zsuzsanna Koszta – OTP Bank
• Gábor Liener – Raiffeisen Bank
• Máté Neményi – KDB Bank

The Golden Beehive Commemorative Plaque was presented to:

• Judit Baracs – SWIFT

In addition, 18 individuals were invited to take up positions as Chairs of the Hungarian Banking Association’s Working Groups, upon the presentation of their Letters of Appointment.

As part of the general election of officers, Members of the Hungarian Banking Association elected the following governing bodies for the next three years:

Board: Radován Jelasity (President), András Becsei (Vice President); Zsolt Barna, Krisztina Bogdán, János Gerendás, Éva Hegedüs, Balázs Tóth;

Supervisory Board: Peter Roebben (Chair), Ágnes Erdős (Deputy Chair), Tamás Fischer, Balázs Szabó, András Szepesi;

Ethics Committee: László Balogh (Chair).

Budapest, 13 July 2026                                                                         Hungarian Banking Association

Limassol, Cyprus, 22 May 2026 – Within the next five years, Europe will need to fill an annual investment gap that is currently estimated at EUR 1.4 trillion. European banks stand ready to play a key role in this respect if empowered to do so. The European Banking Federation (EBF) Board met today to discuss how the key conditions can be created to fulfil this essential role in the most effective way. The discussion focused on three central themes: Capital, resilience and integration. The conclusion was that a wake-up call is needed to ensure decisive, conclusive action now.
The Board, based on the preliminary findings of a new, fact-based study on the competitiveness of European banks by Oliver Wyman, which is expected to be published in June 2026, discussed and concluded that meeting Europe’s investment financing needs will require a better balance between capital, resilience and growth, and a shift away from excessive risk aversion towards a more appropriate level of risk appetite.
If regulation and supervision are the medicine to safeguard the health of the European financial system, determining and adjusting the right dosage is essential for long-term prosperity and growth in Europe.

EBF President Slawomir Krupa stated: “it is not too late, but it is very late. We need to broaden our focus from resilience to competitiveness. Competitiveness starts with resilience, but then it requires proper risk taking and proper risk management to support investment and growth which are the only ultimate prosperity and resilience factors. We need to enact deep changes reflecting our strategic priorities for Europe’s growth and sovereignty and translate these choices into concrete technical changes in regulation and supervision. European banks stand ready to partner and support all the European individuals, corporates and authorities in addressing the most pressing challenges of our times”.
Balancing capital requirements and growth in Europe
The EBF Board discussed and highlighted that, since the 2008 financial crisis, the EU’s financial regulatory architecture and the continuous efforts of the banks have ensured that European banks are well-capitalized and widely acknowledged as resilient.
Meanwhile, the capital requirements continue to be increased, with the current capital requirements’ structure that applies to European banks consisting of accumulated and overlapping layers and buffers on a European level, with – in addition – a multitude of national capital add-ons.
The problem of these overlapping and increasing requirements, the Board discussed, is that capital planning has become a conundrum for EU banks. For a representative cross-section of European banks, the supervisory capital add-ons equal 91% of the retained earnings in the 2022-2024 period, limiting the capital generated available for further lending to just 9%. The Board observed that the lending capacity of European banks is increasingly constrained by supervisors’ discretionary capital requirements.
The Board concluded that, based on these new insights, the urgency has further increased to collaborate towards a fundamental and accelerated simplification of the European regulatory and supervisory framework to allow banks to increase their contribution to bridging the gap of Europe’s increasing investment requirements.
Digital euro and the future of payments in Europe
The Board took note of the rapid progress in legislative negotiations on the digital euro and the ECB’s ongoing work. Board members noted that a carefully sequenced, phased implementation process is the most effective means of mitigating the risks of a full-scale launch – safeguarding trust, ensuring operational readiness, and laying the groundwork for a digital euro that works for all stakeholders from the outset.
Board members also highlighted that European banks have a strong track record in collaborating and delivering results in the area of digital payments, thus providing a solid foundation and valuable assets to support resilient and autonomous retail payment systems, such as the SEPA instant payments scheme (SCT Inst). Leveraging the SCT Inst scheme, a range of domestic and regional account-to-account (A2A) mobile payment solutions are working together to provide competitive and innovative pan-European payments for all main use cases, through interoperability of the payment experience across European countries. In this respect, the Board emphasizes the importance to reuse established and proven European standards governing private digital means of payment. Such an approach would be mutually beneficial for both public and private sector stakeholders. and would underpin the complementarity between public and private initiatives in strengthening European payments sovereignty.

It would also have many positive impacts on all relevant stakeholders, payment service providers, merchants and consumers alike.
Finally, the issue of a limit in digital euro holdings continues to be a crucial aspect of the project for banks, as safeguarding bank deposits, is essential for the lending capacity of banks.
The Board concludes that these points should be reflected in the draft legislation establishing the digital euro.
Tech risks
The Board discussed priority aspects of risks related to the use of technology, namely latest developments regarding frontier AI models and digital fraud. It was noted that effective management of risks stemming from the misuse of AI and the fight against digital fraud call for increased cooperation and an ecosystem approach, both at the European and at international levels. Banks, policymakers and supervisors are already engaged in constructive dialogue. The dimension of the broader ecosystem, however, is of particular importance: all entities in the supply chain need to address AI risks; all entities in the fraud chain, including telcos and online platforms, need to act decisively and in a seamless manner to prevent and fight digital fraud.
The discussion also touched upon the current debate on Europe’s technological sovereignty and the necessity to balance security considerations with fostering vibrant and innovative supply chains that support the competitiveness of European banks. Financial entities need to maintain the ability to manage the underlying operational, cyber and third-party risks associated with sovereignty, through their existing governance and risk management frameworks, consistent with current regulatory requirements and supervisory expectations. Financial entities make long-term technology investments planned over many years. Predictability and regulatory clarity are therefore critical.

For more information, contact EBF media relations at mediacentre@ebf.eu

or call/app Niels-Peter van Doorn at +32 (0) 472 01 71 66

EBF Board Highlights - 22 May 2026 

The elections that took place yesterday and the clear victory of the Tisza Party can open a new chapter for Europen intergration, and, within that, the Hungarian economy’s development. Co-operation between government, economic and financial areas will result in sustainable development and growth, rooted in predictability. The core responsibility of the Hungarian financial sector is to fund economic growth in Hungary,  for which it has the right skills and capabilities. We are committed and ready to co-operate for Hungary’s stability and predictable growth. Congratulations to the winning political power!

Hungarian Banking Association

The Hungarian Banking Association firmly opposes the increase of the free ATM cash withdrawal limit, as it causes significantly more harm to society and the economy than the benefits it provides to the state.

Budapest, 6 October 2025 – Once again, representatives of the Hungarian banking sector and the Hungarian Banking Association are rolling up their sleeves to draw attention to the importance of blood donation. This joint initiative – supported for several years by the Ministry of Agriculture and partnered by the Central Bank of Hungary – aims to encourage bank employees to participate in voluntary blood donations, contributing to the production of thousands of blood products that can heal and save lives.

Several members of the Hungarian Banking Association have submitted a petition to the Constitutional Court, requesting a ruling that the repeated extension of the regulation known as the household interest rate cap is unconstitutional.

In order to stimulate economic growth, the Hungarian Banking Association is calling on its Member Banks to consider participating in the Hungarian National Bank's Certified Corporate Loan Programme. In the current economic situation, it is essential that all planned and realistically feasible corporate investments are implemented on time, and that the banking sector is able to provide economic players with the required loans.

A predictable and stable financial and economic environment, the provision of the right conditions for organic market processes and the prosperity of the European economy together provide the basis for new investment decisions. The core task of a competitive banking sector is to be able to finance the credit needs of businesses in accordance with market principles, at favourable interest rates and on reasonable terms.

A key objective is for the domestic banking sector to support new investment decisions and their implementation through Qualified Corporate Loan Products for small and medium-sized enterprises, especially medium-sized companies and dynamically developing lower-medium sized businesses.

As the financial situation and the operations of businesses are best known to their own account-holding banks, the general market expectation is that these institutions should finance realistic investment needs supported by business plans on favourable terms, subject to appropriate risk assessment.

For the above reasons and in order to promote the development of the Hungarian economy, the Hungarian Banking Association encourages its Member Banks to consider joining the new loan scheme initiated by the National Bank of Hungary.

1 August 2025                                         Hungarian Banking Association

A competitiveness and growth regulatory mindset for Europe’s banks

16 May 2025, Warsaw – As global dynamics shi1, Europe must secure growth, prosperity, and safety. The EU needs an €800 billion annual investment gap and another €800 billion by 2030 for security and defense. The European Commission’s CompeFFveness Compass focuses on three prioriFes: boosFng innovaFon, acceleraFng decarbonisaFon and compeFFveness, and reducing strategic dependencies. Europe’s banks are crucial to this endeavour. By mobilising capital and offering innovaFve and secure soluFons to ciFzens and businesses, they can help meet the conFnent’s most urgent needs. A compeFFve Europe needs a compeFFve banking sector. At its meeFng on 16 May, the European Banking FederaFon (EBF) Board discussed the main prioriFes to unlock this potenFal.

EBF President Slawomir Krupa stated: “Bold and decisive ac/on is essen/al to rebuild Europe’s economic leadership and achieve results. Delivering real change in these areas demands a fundamental shi= in mindset—away from a too defensive posture, based upon the flawed assump/on that extreme resilience equals health and strength, towards a more proac/ve approach that embraces growth, appropriate risk-taking and investment as necessary ingredients for compe//veness, growth, and prosperity. Europe’s banking sector remains at the centre of the EU’s growth strategy and needs to be supported by a regulatory and supervisory framework that empowers it to finance Europe's vital needs: innova/on, energy, defence, security, sustainability and strategic autonomy.”

Unlocking capital for growth and security
To unleash growth potenFal, Europe needs to unlock bank capital as a fundamental resource for supporFng its economy and businesses. Now is the Fme to put that capital to work and ensure that the regulatory framework and supervisory practice move beyond a sole focus on extreme resilience, toward one that empowers the financial sector to act as a true catalyst for growth. Since 2008, the conFnuous efforts of the banks and EU’s financial regulatory architecture have ensured that European banks are resilient and well-capitalised. However, they are also subject to very high capital requirements and operate under the constant perspecFve of further increases, forcing overcauFousness, because the European banking system is weighed down by naFonal discreFons, capital add-ons and gold-plaFng over internaFonal standards. Taking into account the already proven resilience and without quesFoning the fundamental objecFve of financial stability, it is Fme to reassess the capital requirements faced by European banks and notably the mulFple layers of supervisory capital add-ons imposed at the EU level beyond the Basel minimum requirements. This assessment should also take into account internaFonal developments, where some major jurisdicFons may not fully implement the Basel III endgame. This raises a criFcal issue of compeFFveness for European banks, whose market share has already been declining compared to their U.S. counterparts, including in key areas such as wholesale and capital markets in Europe. It also presents the quesFon of how much capital is being unnecessarily locked out of the financial system — capital that could otherwise be more effecFvely used to support lending to households and businesses. For the same reason—unlocking capital—reviving the securiFsaFon market in Europe should be a key priority too, as it would increase banks’ lending capacity. It would also provide professional investors with a broader range of secure, diversified investment opportuniFes and access to risk management tools.

Europe’s banking sector: A strategic sector
As Europe shi1s from an over-focus on risk avoidance to an agenda of growth, it must recognise its banking sector as a strategic enabler. As proposed in the Savings and Investments Union (SIU), the EBF supports the development of a dedicated report to assess the compeFFveness of the European banking sector and guide future policy, as well as tangible measures to foster it, as soon as possible in 2026.

Simplifying & adjus3ng the regulatory and supervisory framework for growth
Banks’ ability to serve efficiently future needs faces a complex and fragmented supervisory and regulatory framework, with proliferaFon of rules, standards, guidelines, supervisory expectaFons (level 2 and level 3), and naFonal discreFons, in all areas of banking acFvity, including rules governing retail banking, digital finance, and cyber resilience. Between 2019 and 2024, the EU issued approximately 13,000 new regulaFons, and EU’s financial rulebook now exceeds 15,000 pages of direcFves and standards. It is therefore essenFal to examine what can be simplified and streamlined to enhance regulatory and supervisory efficiency going forward. Regulatory complexity is affecFng also Europe’s sustainable and digital transiFons, o1en coupled by insufficient analysis of costs, risks, and benefits, and inadequate consideraFon of unintended consequences that could disadvantage EU banks. The European Commission’s efforts to align regulaFon with both compeFFveness and sustainability objecFves are welcome and need to extend to digitalisaFon as well. The next step must be to reduce regulatory complexity and enhance the compeFFveness of Europe’s industry and banking system, fostering the financing of businesses and beaer servicing of consumers. The first omnibus is a welcome first step in the right direcFon and is fit for the current challenging and rapidly changing environment.

New ideas must pass the competitiveness test
A rigorous mindset should apply, even more urgently, to new proposals with the potenFal to heavily impact the financial services landscape. The legislaFve proposals for financial data sharing and digital euro, currently under review by the co-legislators, are cases in point. Regarding FiDA: despite acknowledging the innovaFon potenFal of cross-sectoral data sharing, banks have serious concerns about the proposal’s cost implicaFons, divergence of resources without proven market demand, broad scope and unrealisFc Fmelines, and unclear roles for non-EU actors. These should be addressed with robust provisions and a bold rethinking process: the ability of European banks to innovate and compete needs to be the filter for scruFny within a changed (geo)poliFcal context, and withdrawal should remain an opFon if this scruFny points to such result. Regarding the digital euro: ensuring sovereignty in European payments is a highly strategic objecFve clearly shared by banks, central banks and authoriFes alike. Europe needs to get there fast and in the most cost-efficient way, and all opFons must be explored to that end. This includes a real public-private partnership in an ecosystem that makes room for and best use of all available and developing European-wide soluFons, including the infrastructure that the industry has in place already.

The Hungarian Banking Association held its Annual General Meeting earlier today in the recently renovated headquarters of GIRO Zrt. The event was attended by bank CEO’s as well as Government leaders responsible for economic and financial affairs. Balázs Hankó, Minister of Culture and Innovation, highlighted the intermediary role of the banking sector in the field of family support schemes, while Zoltán Kurali, Deputy Governor of the National Bank of Hungary (MNB), stressed the importance of co-operation between MNB and the banking sector.

At the General Meeting, the membership decided to publish the following statement.

A quarter of a century ago, one of the most notable tasks ahead of us was to ensure a smooth transition to Y2K, i.e. to the new millennium in IT. At the time, many thought the 21^st century would become the age of robots, characterised by cheap mass production, rapid economic and service industry evolution, the rise of fintech giants and financial stability. Futuristic visions of a complete transformation of financial markets emerged, such as a cashless society, unmanned services, as well as fully digitalised, paperless transactions. A quarter of the 21^st century has already passed, with a global financial crisis, a pandemic threatening our health, devastating wars and the most recent protectionist phenomenon. Some of the predictions seem to have come true, others have turned out to be exaggerated. Therefore, the time has come to look back and use this opportunity as a basis for planning a future that also responds to the real challenges of the digital age.

The role of financial markets, with the banking sector being the dominant sector within, has been strengthened over the past 25 years. In this period, the Hungarian banking sector's balance sheet total has grown by 900%, while corporate lending has increased fivefold, including a 50-fold increase in the guaranteed SME lending portfolio. A significant milestone is that we have now reached 10 million bank cards, and assets under management in pension funds have come close to HUF 2 600 billion, and the number of issuing companies on the Budapest Stock Exchange has exceeded 150. Over the past 25 years, domestic banks have paid more than HUF 8 000 billion in taxes and contributions into Hungary’s budget.  

Over the past quarter of a century the banking sector has repeatedly demonstrated that, despite the extra burdens, it remains a stable pillar and catalyst for economic growth and recovery in the wake of various crises. In 2025, the key commitments of the Hungarian Banking Association were as follows:

1. Banks are restraining from introducing annual inflation-tracking increases in retail account charges,
2. Availability of a free basic account,
3. Regular awareness-raising about the financially attractive bank account packages available,
4. 5% mortgage interest cap for the first green home of young people,
5. Fair insurance conditions for the baby loan product,
6. Interest rate reduction in the Széchenyi loan programme,
7. Installation of ATMs in settlements with more than 2000 inhabitants.

These achievements and voluntary commitments show that the traditional financial sector has played and continues to play a crucial role in growing and running the economy and in carrying the tax burden.

When assessing the economic processes of our time, it is useful to bear in mind that the international situation fundamentally determines and overrides the opportunities Hungary has for developing its open economy. The global world order keeps taking new directions in a matter of moments, with the consequence that economic systems and co-operation will evolve on a different basis and on new foundations. Today's decisions will determine the future for decades to come, which is why it is of paramount importance for the operating environment of the banking sector to ensure international competitiveness and the ability to support the economy.

Cash has always had its usual place and role. Evolution, a transparent economy and the fair taxation of the public have necessitated a rethink of the role of cash. The costliest process is the repeated exchange back and forth between cash and money on the account, as well as keeping cash available for this purpose.

The Digital Citizenship Programme sets out a way forward. Broad use on market terms is also a key to success here. New digital solutions and channels, including electronic financial services, open up new horizons if they are available to market players and their customers at low cost and free of extra taxes and contributions. The universal objective is to make digital services easily accessible and user-friendly. Here again, the successful match is between a Hungarian operator and Hungarian consumers.

Given that financial markets have become fully globalised, the situation in Hungary is assessed from the perspective of the financial systems and relevant actors currently operating. Financial actors in Hungary can be divided into four groups:

• Banks with head offices in Hungary that are owned either to a significant degree or wholly by Hungarian investors. They have a market share of around 50%, as well as a strong local presence, and operate globally from here.
• The interests in Hungary of large European banking operations, which strengthen our embeddedness in the single European financial market. As key players in EU trade and economic co-operation, they play a crucial role in the Hungarian national economy.
• The subsidiaries of banking operations outside Europe, i.e. players of global importance that ensure global financial and economic involvement. Their operations in Hungary are impressive due to their ability to attract capital. Working capital investment by the owner countries is clearly a key factor for the Hungarian economy.
• A significant group of non-bank financial service providers, which complement and support the dynamic operation of the credit market with their specialised activities and services.

They form the basis of the Hungarian Banking Association, and work together to provide the financial resources and connections required for the sustainable operation of the Hungarian economy. The role of Hungarian-based financial service providers must be strengthened, as together they ensure the self-sustaining evolution of the Hungarian economy. They pay taxes in Hungary, and are the most committed towards its citizens and businesses. In order to ensure that customers can continue to be served by domestic financial service providers in the long run, the extra burdens should be lifted from them now.

Quite often, too much is expected of the banking sector both in Hungary and abroad. The most legitimate expectation at national level is to finance Hungarian businesses and families, as the key financial pillar of sustainable development. The current Hungarian funding programmes are wide-ranging. In co-operation with the Government, the central bank and partner organisations, preferential programmes and support channels have been established that are predictable and easily accessible by the entire corporate and retail clientele. In addition to these, financial institutions have also come up with their own programmes, according to their commitments, and this year's commitments have been grouped around 7 topics, as explained above.

To continue and strengthen programmes, despite a volatile regional and global environment, economic operators and the banking sector all need predictability, stability and the cessation of overburdening. To this end, we count on the co-operation and support of the National Assembly, the Ministry of National Economy, the ministries committed to economic development and the National Bank of Hungary. The banking sector is, of course, open to co-operation and supportive of the tasks and objectives of these actors.

At the General Meeting, the election of officers also took place. The new Chair of   the Supervisory Board of the Hungarian Banking Association is Peter Roebben (K&H), and its new Members are Krisztina Bogdán (ING) and Bence Katona (MFB).

The event also included the presentation of awards for achievements in the past period.

The Golden Beehive Award was presented to:

• Krisztina Ivanics (Exim)
• Linda Murányi (Erste)
• István C. Szabó (MBH Bank)
• Judit Szűcs (OTP Bank)
• Zsolt Takáts (Raiffeisen Bank)
• István Wimmer (MGYOSZ)

The Golden Beehive Commemorative Plaque was presented to:

• Krisztina Kiss (BEVA)

In addition, 6 people were invited to chair a banking association working group, by way of presenting their letters of assignments as leaders.