News

2020. October 16.

GOOD DEED Bank is closing the week with nice results

PRESS RELEASE

A number of member banks joined the first event of the GOOD DEED Bank programme series created by the Board of the Hungarian Banking Association. On the closing day of Banking Blood Donation Week, Takarékbank’s staff and invited guests could donate blood in the bank’s head office building. Takarékbank was pleased to join Banking Blood Donation Week, the common initiative of the Hungarian Banking Association, the banking sector, the National Blood Service and the Hungarian Red Cross. “There's something you can't buy for money. It is blood, the liquid tissue that cannot be purchased and isn’t available on international markets - it can only be acquired through blood donation...”- stressed József Vida, Chairman and CEO of Takarékbank, who himself gave blood. “We estimate that by the end of the week we could potentially reach 600 blood donors in total. We wish to thank bank staff for participating in this noble initiative in such high numbers" - said Dr. Sándor Nagy, Professional Deputy Director-General of the National Blood Supply Service. In his welcome speech, Levente Kovács, Chief Secretary of the Hungarian Banking Association also pointed out the importance of setting an example and blood donation, and announced that after the Banking Blood Donation Week, a Digital Fast Track programme would also be launched at the end of the year to supply underprivileged students and schools with IT devices.

For further information on conducting interviews or with any queries please, contact Ágnes Sütő, Deputy Chief Secretary of Communications at the Hungarian Banking Association  at suto.agnes@bankszovetseg.hu or on +36 70 9381609

 

2020. October 14.

Voluntary blood donation - also during the pandemic

PRESS RELEASE

Under the GOOD DEED Bank initiative, a sector-wide awareness-raising voluntary programme, today OTP’s staff and representatives of participating supervisory and government actors and invited guests could donate blood in the company’s office buildings. "Blood cannot be replaced by anything else, and thus it is equally important for everyone to ensure a smooth blood supply in Hungary, not only as part of day-to-day life, but also at times such as during the current pandemic, when co-operation and joint action are of paramount importance. " - said András Becsei, who donated blood in the bank's Deák Ferenc Street Office Building in the early hours of the morning.

For further information on conducting interviews or with any queries please, contact Ágnes Sütő, Deputy Chief Secretary of Communications at the Hungarian Banking Association  at suto.agnes@bankszovetseg.hu or on +36 70 9381609

2020. October 12.

New bank on the Hungarian market - information provided by the Hungarian Banking Association about the GOOD DEED Bank programme

PRESS RELEASE

The Hungarian Banking Association and the domestic banking sector have launched a joint CSR programme under the name of JÓTETT Bank [GOOD DEED Bank]. In co-operation with the National Blood Supply Service and the Hungarian Red Cross, the Hungarian Banking Association will be organizing Bank Blood Donor Week between 12-26 October for the very first time, as the starting event of the GOOD DEED Bank programme. According to Radován Jelasity, President of the Hungarian Banking Association, it is symbolic that, on the very first occasion, GOOD DEED Bank, the new charitable programme initiated by the Association's Board, shows the strength of co-operation between financial institutions during the Covid-19 pandemic: "Banks help rebuild the economy by maintaining access to credit, while, by donating blood, we aim to help people recover and prosper" – explained the President.

For further information on conducting interviews or with any queries please, contact Ágnes Sütő, Deputy Chief Secretary of Communications at the Hungarian Banking Association  at suto.agnes@bankszovetseg.hu or on +36 70 9381609.

2020. May 22.

Press Release of the HBA's General Meeeting

Hungarian Banking Association
PRESS RELEASE
May 22nd 2020
 
 
 
Minister of Finance Mihály Varga welcomed the participants of the General Meeting of the Hungarian Banking Association through a video message. The General Meeting was held on May 22, 202 and new officers were elected. 
 
Minister Mihály Varga emphasized that the Hungarian banking sector developed at a good pace before the health crisis; for financial institutions, 2019 was one of the best performing years of the decade. In his words: thanks to this, the Hungarian banking sector managed to continue operating smoothly even during the emergency and banks were able to respond immediately to and in support of the introduction of the loan moratorium and the raising of the limit of contactless payments. The Minister emphasized that these past times have proved that they can depend on the Banking Association not just when the economy is going well, but in more difficult times as well, adding that Hungarian economic policy will continue to prioritize the interests of the Hungarian economy, and therefore, Hungarian financial institutions can count on the government. 
 
Following this, the professional organization which fully represents the activities of financial institutions with its 50 members held its meeting. During the meeting they decided on publishing the following communiqué, which contains their current positions on several matters: 
 
Communique issued by the General Meeting of the Hungarian Banking Association
 
Today, due to the COVID-19 virus emergency, the Hungarian Banking Association held its annual ordinary General Meeting via video conference, which was also a leadership election meeting, due to the expiration of the 3-year terms of office. Minister of Finance Mihály Varga presented an assessment of the economic situation, and greeted the participants of the General Meeting in a video message. On this occasion, Members of the Hungarian Banking Association decided to publish the following position in current economic matters.
 
The global measures taken in the first half of 2020 with a view to addressing the emergency caused by the COVID-19 virus and protecting human life, clearly marked the end of an economic cycle. Thus, after the financial crisis of 2008, we are again witnessing a general economic downturn, as a result of the emergency. The health issue behind the crisis has led to a number of previously unseen economic phenomena, and has caused the partial or total cessation of production or services in several sectors. Due to the unprecedented nature of the root cause, there are no proven, experience-based approaches available for managing and resolving the crisis.
 
One of the key foundations of the economic policy measures of governments is a well-capitalised and adaptable banking sector, which, under normal economic conditions, ensures predictable economic development, and, in situations similar to what we are witnessing today, warrants economic stability, in accord with appropriate government measures. The Hungarian banking sector, in cooperation with the government, was among the first to offer significant assistance to all borrowing private individuals and enterprises through the loan repayment moratorium. As a result of co-operation with the Government and the Central Bank of Hungary, we can also offer additional important means of support to economic players that aid the survival and recovery of the economy. The additional responsibilities we face, including the on-going provision of financial services to customers day-by-day, in spite of the limitations imposed due to the emergency, require both perseverance and innovative adaptability from us.
 
Hungary has had a stable and reliable banking sector for quite some time. Hungarian banks are active participants in the world of international finance, and serve as a solid foundation to the national economy. The capital position of banks has strengthened in recent years, and they have carried out a comprehensive digital modernization effort, also preparing for foreseeable risks. These achievements now offer an important safety net during the virus threat.
As more and more employees are forced to work from home and distance learning spreads due to the crisis, the digital and IT awareness of Hungarian society is also improving significantly. In the field of finance, the instant payment system was successfully launched in early March, and the use of contactless bank cards and online banking services has by now become ubiquitous. We believe that the digital switchover can be further accelerated, and the 22-point digitalisation proposal of the Banking Association serves as a good guideline for this in the financial sector. We believe that the goals identified in the document can be successfully achieved by bringing together the Government, the Central Bank, commercial banks and all relevant institutions and organisations.
 
Countries around the world are adopting a variety of health and new economic approaches to address the challenges brought about by emergency scenarios. The consequences make global economic relations and impacts more complex. In this situation, economic sectors that produce higher added value and are able to adapt quickly, and countries that are able to develop such sectors fast can get ahead of the pack.
 
When it comes to Hungary, we must emphasise that the open economy that has emerged in recent decades has by now become an inescapable fact. Being a member of the European Union, our natural relationship network is sited in the economies of member states. At the same time, the policy of opening up towards the East also offers promising results. Our existing relations with our historical partners, the Visegrád 4 countries and nations in the Balkans are important as well. Here, existing links can be substantially enhanced, as crisis/change is always also an opportunity. Our sector is also committed to financing investments and to expanding co-operation in this area. 
 
At the General Meeting, we also handed over the Golden Beehive Awards, which reflect the results achieved over the past years.
 
Recipients of the Golden Beehive Award:
Lajos Bartha (MNB) and Zsolt Selmeczi-Kovács (GIRO) for their key efforts in developing and launching the Instant Payment System.
Zoltán Marosi (Oppenheim Law Firm) and Levente Molnár (Oppenheim Law Firm) for their outstanding work in providing legal representation to and supporting the financial sector.
Anna Florova (OTP Bank) for the successful launch and management of the Family Subsidies Working Group.
 
New leadership members of the Hungarian Banking Association, elected at the General Meeting: 
 
President: Jelasity Radován, Chairman and CEO, ERSTE Bank
Vice-President: András Becsei, CEO, OTP Mortgage Bank
Board Members:
- Éva Hegedüs, Chairman and CEO, Gránit Bank (as representative of small banks)
- Éva Búza, CEO, Garantiqa, Hitelgarancia,
- Pál Simák, Chairman and CEO, CIB Bank, 
- József Vida, Chairman and CEO, Takarékbank, 
- György Zolnai, CEO, Raiffeisen Bank.
 
Supervisory Board:
Chairman: David Moucheron, CEO, K&H Bank 
Vice-Chairman: Tibor Gáspár, Director, Raiffeisen Bank
Supervisory Board Members:
- Bálint Csere, Managing Director, OTP Bank
- Zoltán Fényi, Head of Legal, Sberbank
- Roland Szugyiczki, Director, MKB Bank.
 
Ethics Committee:
Chairman: Henrik, Auth, Economist
 
Today in Hungary, all authoritative entities speak highly of the performance of our banks in this unprecedented crisis situation. The prestige of our sector is growing substantially, and it is a great honour to be able to thank the banking community on behalf of the entire society for its service to the country and its exemplary conduct.
 
In his speech at the General Meeting, András Becsei emphasized that adapting to changes has become part of a normal workday. Thanks to the stability, organized nature, and experience of the banking sphere, it has managed to tackle the obstacles so far posed by the current crisis, and thus remains an active and helpful partner of the population and enterprises. Special thanks go to all colleagues – they have performed incredible feats in the recent past. In the past years, after the 2008 economic crisis came to an end, the banking sector demonstrated stable growth. However, it is important to note that one-time, non-Hungarian items played a defining role in the years of plenty from 2016 to 2019, and the years of famine are now expected to arrive. 
 
Furthermore, our sector bears one of the heaviest tax burdens of Europe. Without a doubt, open dialogs need to continue between customers, the government, the supervisor, and banks. We have always been and always will be reliable partners in this. There are many tasks ahead of us still, we must continue and further accelerate our steps towards digitalization in collaboration with the Government and the Central Bank of Hungary, as this is what our customers expect of us, and this is the interest of the national economy. 
 
On behalf of members, the newly elected Board of the Hungarian Banking Association and the Secretary General expressed their gratitude to retiring president András Becsei, for his successful leadership during an extremely challenging nearly full year. András Becsei helped the banking sector achieve significant results during the time he served as temporary president, helping to improve the capacity for digitalization, prepare for the instant payments system, manage the current emergency, and develop international relations, to mention a few. 
 
They also expressed their gratitude to Kevin A. Murray, Chief Executive Officer for Central Europe and Country Head for Hungary at Citibank. Mr. Murray received the Golden Beehive Medallion Award for his work as Chairman of the Foreign Bankers’ Club. 
 
In his first speech as President of the Hungarian Banking Association, the newly elected Radován Jelasity said: “COVID-19 does not just pose economic challenges, it is also a challenge for civilization, for all of us. Still, I believe in the catalyzing and positive economic role of the banking sector. I am dedicated towards dialog, and towards joint solutions that are acceptable to all. The banking sector is not only a vital part of the economy, but also serves as its mirror: a stable and strong banking sector cannot exist without a robust economy, just as a robust economy cannot exist with a strong banking sector.”
The stated long-term intention of the new president is to strengthen customers’ trust in the sector, to improve the international popularity and the domestic reputation of the Hungarian banking community, as well as to sustain collaboration with regulatory authorities. 
He believes that it is his duty together with the Board to define the priorities of the banking sector. As regards current priorities, he emphasized the quick and efficient implementation of economic programs launched by the government and the central bank (MNB). The banking sector is an active supporter of the programs to restart the economy, as they aim to help customers get through the economic difficulties brought on by COVID-19 and thus give a new push to the entire economy. We must evaluate the experiences gained from this health emergency. The openness of the government and MNB to accelerate the introduction of several points of the digitalization proposal package paves the way forward. Another goal remains reducing the special tax burdens on banks in order to restore the regional competitiveness of the sector. 
The newly elected president concluded his speech by highly praising the colleagues of the banking sector, who, through their tireless efforts, have made it possible to provide continued customer service, to sustain business continuity, and to ensure the undisrupted flow of payments in the past few months, even under changed circumstances. 
 
 
 
Budapest, May 22, 2020 The Hungarian Banking Association
2020. April 21.

In Memory of Miklós Pulai

Miklós Pulai, former secretary general of the Hungarian Banking Association, who was an iconic character of the Hungarian banking history passed away at the age of 94. It is with deep sadness, the Hungarian banking community and the Hungarian Banking Association bid farwell to Mikós Pulai.

Entire memoriam available only in Hungarian

2020. April 20.

In Memory of Zsigmond Gábor Erdély

Zsigmond Gábor Erdély, the second president of the Hungarian Banking Association passed away on 15 April 2020. He was a respected member of the Hungarian baking community and his professional career was always linked the the banking sector. As he was one of the founders of the Hungarian Banking Association, we will always remember him and his lifework.

Entire memoriam available only in Hungarian

2020. April 14.

How to adjust to the challenges of the Coronavirus pandemic - Emőke Bagdy (Hungarian Banking Association Press release on 9 April - An excerpt)

The leaders of the banking system feel duty to pay attention to the colleagues and customers in those situations when we face unprecedented challenges. Upon the request of the Hungarian Banking Association, Professor Emőke Bagdy has made an advice titled How to Adjust to the Challenges of the Coronavirus pandemic. The advice is accessible on the homepage of the Hungarian Banking Association (How to Adjust to the Challenges of the Coronavirus pandemic), and the audio files can be downloaded from the digital channel of Professor Bagdy (https://soundcloud.com/bagdyemoke/). Only Hungarian.

Entire article available only in Hungarian

2020. April 09.

Statement of the President of the Hungarian Banking Association

The Hungarian banking sector has to fulfil its commitments on four fronts. First of all, we ensure that the payments systems operate steadily and safely. Secondly, we ensure that our customers and colleagues stay safe and we take every reasonable measure. Thirdly, we support lending in the hope of ensuring the functioning economy and financial services. Finally, we show solidarity with the entire society.

Finally we have to say thanks to the customers who have managed to adjust to the situation. Also we have to say thanks to our colleagues in the bank branches who make this adjustment possible.

Take care of yourselves!

Entire statement available only in Hungarian

2020. April 09.

Press release on the sustainability of the financial services and on our lifes shaped by the changing working conditions

Banking services are lifeblood in case of emergency as well. Today there are 1,956 bank branches and 95 per cent of them are open. There are around 5,000 ATMs in the country and 147,000 POS terminal is in use for credit/debit card payments. Until 15 April the contactless payment limit increases to 15,000 HUF. These numbers and measures taken ensure that the Hungarian financial services are fully sustainable amid the Coronavirus pandemic as well.

Entire relelase available only in Hungarian

2020. April 07.

Press release on the financial management of the Coronavirus emergency

The Hungarian Banking Association welcome the measures taken by the Government and the Central Bank of Hungary which strives for mitigating the impact of the negative economic effects of the Coronavirus pandemic. Also, they could contribute to the revival of the Hungarian economy. We have to point to the fact that the measures taken by the Government and the Central Bank of Hungary was timely and proportional.

Entire release available only in Hungarian

2020. March 27.

Press release: Advice on the opening hours of bank branches based on the restrictions on movement related to the Coronavirus emergency

In the interest of reducing the Coronavirus infection, the Hungarian government imposed restrictions on movement today. Taking this into consideration the Hungarian Banking Association issued the following recommendation for its members. The opening hours of the branches is to be reduced and the branches have to close at 3 pm on day of operation. The Hungarian banking sector strives for providing open bank branches in every region of the country.

Entire release available only in Hungarian

2020. March 19.

Press release on the lending moratorium

The global coronavirus epidemic brings complex challenges for the economy.

The Prime Minister has announced that he will take significant economic measures. The main financial element of these measures is the moratorium on retail and corporate loan repayments until December 31, 2020. This can be a quick and efficient aid for families and enterprises in need. On March 19, 2020 the financial sphere, i.e. banks and leasing companies, stopped collecting repayments based on the measures prescribed by the government decree. However, customers who do not wish to take advantage of the moratorium may continue repaying their loans with the original terms of their contract – they possess both the right and the opportunity to do so.

The banking sector will ensure that a declaration can be submitted to indicate such an intent, and that it will be possible to retract in the future. We are currently working on the sample declaration form, we ask for your patience until it is published. Please do not contact banks’ customer services with your anticipatory questions as they might be overburdened in this time of emergency. We especially ask that you avoid walking into bank branches.

The detailed rules and the implementation process for the Prime Minister’s announcement are being consulted and elaborated. We kindly ask our customers to be patient in the next few days. Once the above mentioned technicalities have been worked out, everyone concerned will receive detailed information. The government decision and its indirect impact are very significant. The banking sector possesses the liquidity necessary for it. The interest income, the collection of which will now be delayed, amounts to nearly 450 billion forints, whereas the free liquidity ensuring the stability of the banking sector is over 13 000 billion forints. This volume is made possible by the regulations instated after the 2008  economic crisis that necessitate the accumulation of capital, as well as by the liquidity of money markets.

The financial sector trusts that through the precise and strict implementation of the government measures the national economy has the chance to get through these critical times over the course of a few months.

The duration of the moratorium extends beyond the crisis management period and is likely to stretch into the relaunch period. In addition to implementing the measures, the banking sector is also preparing to relaunch economic activity after the epidemic is over. In order to do this, it is essential to have a harmonized and all-comprehensive common economic package where Hungarian banks will play a key role, just as they have in the past. In order to sustainably finance the rebuilding of the national economy, it is necessary to terminate the extra burdens on the financial institutions sector. Therefore, we ask for all levies and special taxes burdening banks to be phased out starting from January 1, 2020.

 

March 19, 2020                                                Hungarian Banking Association

 

2020. March 17.

Press release of the Hungarian Banking Association

Owing to the Coronavirus pandemic, many governments are turning to crisis measures. During this period we definitely need to make consequent, sober and careful decisions built on international best practices. The Hungarian Banking Association is working on maintaining the financial stability of those families and companies which are not indebted and face difficulties through no fault on their own. We try to give professional advice in the hope of helping the financial sector and our customers. Also we do our best to mitigate the impacts of the emergency.

Entire release available only in Hungarian

2020. March 16.

Preventive measures in the bank branches

The participants of the banking sector closely monitor the news and information on the Coronavirus pandemic and they are doing their best to maintain the operation of the financial services. According to the Hungarian Banking Association, the Hungarian banking sector is stable and is going to remain stable in the future as well. In the hope of reducing the possibility of the spread of the disease, we kindly ask the customers to follow the instructions of the bank branches.

Thanks to our customers for their efforts.

Entire release available only in Hungarian

2020. March 13.

Press release on the continued availability of the banking services

Various European examples from the past weeks confirm that the entire European financial system is capable of serving its customers. The Hungarian banking sector operates on the basis of the uniform European and Hungarian rules and supervision and it has been prepared for the Coronavirus pandemic and its related risks.  The Hungarian banking sector is stable and will remain stable. The participants of the banking system closely monitor the news on the pandemic and they do their best to maintain the financial services.

Entire release availabe only in Hungarian

2020. March 09.

Press release on how to curb and manage the spread of viral infections

Budapest, 09 March, 2020

In collaboration with MGYOSZ and the Hungarian Leasing Association, the Banking Association has prepared its guidelines, entitled “Recommendations by the Banking Association for financial institutions and related economic service providers of priority on how to manage the threat of an epidemic and an epidemiological situation”. Scroll down to read the Hungarian Banking Association’s Press Statement (available only in Hungarian) and CLICK HERE to download the “Recommendation”.

2019. December 18.

   Sorry, this entry is only available in Hungarian.

2019. December 10.

The PÉNZ7 Volunteer Program wins an award

The night before International Volunteers Day, the PÉNZ7 Volunteer Program received the „Pro Bono Initiative of the Year” award. A big THANK YOU to all the teachers and volunteers who contributed to banks’, the entrepreneurial sector’s and the government’s joint social program. We are grateful to and recognize all volunteers.  

In 2019 PÉNZ7 was held in 1,235 public educational institutions, and reached as many as 205 thousand students.

We strongly believe that with our combined efforts, we can involve even more schools and teachers, and therefore develop the financial and entrepreneurial skills and financial literacy of even more children.
 

More information on the award is available here, in Hungarian: https://www.penz7.hu/hir-reszlet.cshtml?hirId=58

On behalf of the children, we would like to thank you for your time, support and shared experience.  

 

2019. November 11.

2019. October 09.

Press release V8 Ljubljana

The 16th meeting of representatives of 8 banking associations from Central and Southeastern Europe concluded today in Ljubljana, organized by the Bank Association of Slovenia. The subject of discussions were current topics of banking operations in the region with an emphasis on systemic risks, digitalization, implementation of PSD 2 and AML5, business model and regulatory changes, cyber security, sustainable finance and others.
Here.

2019. October 08.

2019. September 23.

2019. July 01.

Press Release of the Extraordinary General Meeting of the Hungarian Banking Association (1 July 2019)

Press Release of the Extraordinary General Meeting of the Hungarian Banking Association

 

On July 1, 2019 the Hungarian Banking Association held an extraordinary General Meeting, where a new President, Vice-President and Board Members were elected, as was necessary due to recent changes in bank leadership.

The General Meeting of the Banking Association elected as president, with unanimous support, Mr. András Becsei, who had previously served as Vice-President. Mr. Radován Jelasity, previously Board Member, was elected to fill the vacated post of Vice-President. Ms. Éva Búza and Mr. József Vida received mandates from the decision-making body to be new Board Members.

The ordinary renewal of officials takes place every three years at the Hungarian Banking Association, with the next due in the spring of 2020. Therefore the officials that were elected at this occasion have undertaken to serve in their posts until the spring of next year. At that point, the Association will elect a new Board, a new Supervisory Board and a new Ethics Committee as part of the full renewal of officials.

In his speech, the newly elected President emphasized that the Hungarian Banking Association wishes to continue its constructive cooperation with the government and the central bank, through which the banking sector can provide a stable financial background for our growth – which has surpassed the EU average.

Special topics about the national economy were discussed at the CEO’s Forum, an event that took place as part of the General Meeting. The guest speakers of the meeting were Dr. László György, State Secretary for Economic Planning and Regulation from the Ministry for Innovation and Technology, who gave an up-to-date summary through his presentation entitled “Challenges and Tasks to Improve Our Competitiveness”, and Mr. Miklós Vecsei, Commissioner from the Ministry of Interior, who discussed ways to help disadvantaged regions catch up to others.

 

1 July 2019, Budapest                                   Hungarian Banking Association

2019. June 26.

Sorry, this entry is only available in Hungarian.

2019. June 24.

Sorry, this entry is only available in Hungarian.

2019. June 17.

2019. June 13.

Sorry, this entry is only available in Hungarian.

2019. April 22.

Changes in the personnel of the Board of the Hungarian Banking Association

Due to his new duties, Mr. Mihály Patai has decided to step down from his position as President of the Hungarian Banking Association. Mr. Patai was Vice-President for 2 years, after which he took leadership of the Hungarian Banking Association for 8 years, as President. The first half of our current decade was spent trying to find solutions to the complex financial impact of the global economic crisis. The second half concentrated on starting to boost the national economy and then rendering it sustainable. Under the leadership of Mr. Mihály Patai the Hungarian Banking Association has become a defining and recognized advocacy group of the entire financial sphere. The Hungarian Banking Association wishes to say thank you to Mr. Patai through the professional and personal recognition of his work as President. 
Based on the Rules of the Hungarian Banking Association, members will elect the next president from the Chief Executive Officers of member institutions within the next 3 months, at an extraordinary General Meeting. A new member of the board will also be chosen at this meeting, to replace Mr. Tamás Bernáth (Hungarian Development Bank).

 

2019. April 06.

The Hungarian Banking Association celebrates its 30th anniversary

In 2019 the Hungarian Banking Association celebrates the 30th anniversary of its establishment. On this notable occasion, the Hungarian Banking Association organised a two-day international event held on 4-5 April.

Our aim with the event series was to duly commemorate the jubilee and look back on the past three decades, summarising what we have learned, and evaluating the current position of the domestic banking sector, as well as its future opportunities, challenges and tasks.  With the help of our high-ranking foreign presenters we reviewed Hungarian, Europe-wide and global financial and economic processes and trends.

The event was attended by the delegations of thirteen countries, including the banking associations of Central and Eastern European countries; high-ranking representatives of the Chinese financial sector, Government officials; the management of the Central Bank and the CEOs of banks present in Hungary.

On the opening day of the event series, the international financial leaders’ forum organised in MKB Bank was opened by Mihály Varga, Finance Minister, followed by the presentations of renowned speakers, such as members of the management of the National Bank of Hungary and the Hungarian Banking Association, as well as senior international bank managers, including representatives of Frankfurt Main Finance, the Asian Financial Co-Operation Association (AFCA), the China Development Bank and the Croatian Banking Association.

You may download the programme of the Financial Leaders’ Forum and the presentations delivered at the event from here.

After the Financial Leaders’ Forum, OTP Bank invited participants to a Gala Dinner, where Andrea Bártfai-Mager, Minister without Portfolio responsible for the management of national assets, Gergely Gulyás, Minister heading the Prime Minister’s Office and Sándor Csányi, Chairman and CEO of OTP Bank welcomed attendees.

On the closing day, in the morning of 5 April, the Hungarian Banking Association organised an international conference with the support of OTP Bank, opened by András Becsei, Vice President of the Hungarian Banking Association. On behalf of the Government, Balázs Rákossy, State Secretary at the Ministry of Finance Responsible for the Utilization of EU Funds also delivered a presentation, along with László Windisch, Deputy Governor of the National Bank of Hungary. Out of the representatives of the domestic and international banking sectors, Sándor Csányi, Chairman and CEO of OTP Bank; Mihály Patai, President of the Hungarian Banking Association; Wim Mijs, CEO of the European Banking Federation (EBF) and Zhang Fang, Deputy Chief Secretary of the Chines Banking Association also held presentations.

You may download the programme of the International Conference and the presentations delivered at the event from here.

Following the Conference, the delegations of European banking associations discussed the topic of co-operation between Europe and Asia with Yang Zaiping, Chief Secretary of the Asian Financial Co-Operation Association (AFCA).

The special jubilee events were concluded with the Annual General Meeting of the Hungarian Banking Association.

Downloadable material for lectures:

   2019. április 4.

   2019. április 5.

2019. April 05.

Communication of the General Meeting of the Hungarian Banking Association

The Hungarian Banking Association celebrated the 30th anniversary of its establishment on April 4-5, 2019 with a ceremonial program series. This anniversary date coincided with the 100th anniversary of the establishment of the Banking Association’s predecessor, the Association of Savings Banks and Banks (TÉBE). On the opening date the financial sector held an International Financial Leaders’ Forum, which was opened by Minister of Finance, Mihály Varga.* The closing event of the program series was the Hungarian Banking Association’s General Meeting, where the leaders of the Banking Association’s members decided to adopt the following communiqué:

On the occasion of our 30th anniversary, we are grateful to the banking leaders and their work who founded the Hungarian Banking Association in 1989. With the step they took, the Hungarian banking sector was able to reestablish its own advocacy group after forty years of forced suspension.  In the past few decades the Hungarian Banking Association became a well-known and definitive professional advocacy institution. Its activities cover the entire financial sphere and its domestic and international involvement has become indispensable in the field of advocacy, cooperation for economic development and the raising of financial awareness. The Hungarian Banking Association has become the “voice” of the Hungarian banking sector that people expect to, from time to time, publish guiding opinions, resolutions on both domestic and international economic changes.   

These days worry mixes with trust when we speak about Europe’s economic and financial developments. Despite the challenges we face, we still must represent our fundamental interest, which is for the European Union’s economy to grow, for the Union to strengthen and for all those nation states which are part of it geographically, economically and culturally to find their homes within it. It is based on sustainable economic growth that our sector’s fundamental interest is to moderate the uncertainties and detrimental consequences of BREXIT. This is also the reason why we support that our neighbors from the South should enter the EU as soon as possible. It is the common interest of the nation states of a unifying and growing European economy to play a definitive role in the development of the world economy. Here we must emphasize that the banking sector can ensure the growth of the European economy through the role it plays in individual countries and its existing liquidity. At the same time the foundations for increasing our regional and international competitiveness can only be laid down by an efficient and unified European regulatory environment.

Amidst the many extraordinary challenges of the past few years, the President of our Association, Mr. Mihály Patai, has quoted a Bible-derived expression for cyclical development several times: the seven years of famine and the seven years of plenty. The first period not only burdened the sector with many types of loss, but also, lacking the necessary sources, developments that would have been necessary lagged behind. The banking sector concluded a successful year in 2018. At the current state of the cycle, hopefully at the beginning of an upward trend, we must make up for what has been delayed both in terms of development and efficiency. This is the only way we can provide the necessary impulses to aid the development of sustainable economic growth in the age of digital transition. We cannot forget our seven years of famine, since on the one hand the true balance sheet is derived from the evaluation of both halves of the cycle, while on the other, lessons from society may greatly help new regulations to improve competitiveness, and with it, sustainable growth.

The upcoming period will concentrate on the digitalization of banking services. The entire banking sector is preparing to grant all the innovative services that can provide the customer experience through a truly safe IT interface. The banking sector is preparing to take the lead in the market as the provider of safe financial services, and the foundations for this endeavor will be its commitment to innovations, the capital power of the sector and its comprehensive experience in IT and knowledge about its customers. Today, the Hungarian banking sector is in the forefront internationally in customer safety, and this will continue to be so in the digital age. From the point of view of customer safety, it is also important that the regulator provide the same conditions and establish the same requirements for both the old and new, the classic and the innovative actors of the market. 

As part of the anniversary program series, the Hungarian Banking Association’s Golden Beehive Awards were awarded to upper leaders who have played a significant role in developing the banking sector and to professionals who performed outstanding work for the Banking Association.

Award recipients:

For their work in the banking sector:

  • Mr. Włodzimierz Kiciński, Executive Vice President of the Polish Bank Association,
  • Ms. Erika Kovács, Chair of the Hungarian Financial Arbitration Board,
  • Mr. János Nyemcsok, General Deputy Chief Executive Officer of MKB Bank
  • Mr. Jenő Siklós, Deputy Chief Executive Officer of Gránit Bank,
  • Ms. Andrea Wéber, General Manager at CIB Bank,
  • Mr. László Wolf, Deputy Chief Executive Officer of OTP Bank.

For their work at the Hungarian Banking Association:

  • Ms. Erzsébet Büki, Head of Product & Sales at Oberbank,
  • Mr. Zoltán Fényi, Chief Legal Counsel at Sberbank,
  • Mr. Csaba Molnár, Head of Department at Raiffeisen Bank,
  • Mr. Zsolt Pál, Associate Professor at the University of Miskolc,
  • Mr. Szabolcs Pintér, Chief Accountant at Bank of China.

 

*After the Financial Leaders’ Forum at MKB Bank, OTP Bank invited the delegates from 13 countries, the government and central bank representatives and the Hungarian bank leaders to a Gala Dinner, where they were welcomed by Ms. Andrea Bártfai-Mager, Minister without Portfolio for the Development of Public Assets, and Mr. Gergely Gulyás, Minister of the Prime Minister’s Office. On the second day, the morning of April 5th, the sector organized an international conference with the support of OTP Bank, where Mr. Balázs Rákossy, State Secretary for the Utilization of EU Funds at the Ministry of Finance, and Mr. László Windisch, Deputy Governor of Magyar Nemzeti Bank (the Central Bank of Hungary) both held presentations. Presentations were also held by guests from the Hungarian and the international banking sectors, by Mr. Sándor Csányi, Chairman and CEO of OTP Bank, Mr. Mihály Patai, President of the Hungarian Banking Association, and Mr. Wim Mijs, Chief Executive Officer of the European Banking Federation. After this, the delegates from the European banking associations consulted on cooperation between Europe and Asia with Mr. Yang Zaiping, Secretary General of the Asian Financial Cooperation Association (AFCA).

 

April 5, 2019, Budapest                                         Hungarian Banking Association

2019. April 01.

The Hungarian Banking Association welcomes AFCA’s representative

The Asian Financial Cooperation Association (AFCA) is one of  the most significant regional non-governmental and non-profit organizations in the financial industry.  This cooperation platform is devoted to building economic and financial connectivity with Asia, aims to facilitate joint governance with shared benefits  and places it in global perspective. The Hungarian Banking Association is one of its founding members and  a well-known European representative of AFCA. In order to exchange experiences, strengthen the integration of financial resources and enhance international cooperation, Ms. Li Wen, Business Supervisor of AFCA came to work with us in Budapest for a longer period.

 

We hope that as the result of the staff exchange program, the Hungarian Banking Association and Hungary will be able to play a more significant role in the success of the Belt and Road Initiative, and that AFCA and the HBA will be able to develop an even more fruitful connection.
 
2019. March 07.

Sorry, this entry is only available in Hungarian.

2019. February 25.

Money Week

Sorry, this entry is only available in Hungarian.

2019. January 17.

Best of Budapest Stock Exchange – A member of HBA staff receives the Investment Literacy Award

The BÉT Legek (Best of BSE) Awards Gala is one of the key events for the Hungarian capital market, which this year recognized outstanding performances on the stock exchange in 2018. In January, the Hungarian Banking Association’s employee, Ágnes Sütő, Deputy Secretary General, Communications received the Investment Literacy Award. The laudation mentioned Ms. Sütő’s enduring achievements in adopting the Hungarian program series (PÉNZ7) from the European Banking Federation’s International Money Week. Each year, the PÉNZ7 program series reaches an exceptionally high proportion of students and teachers on a European scale. The program’ organizers, the Ministry of Human Capacities (the project administrator), the Ministry for Innovation and Technology, the Ministry of Finance, the Hungarian Banking Association, the Money Compass Foundation, and Junior Achievement Hungary all collaborate in order to make PÉNZ7 as successful as possible. Ms. Sütő, winner of the award, is also the curator of the central bank’s Money Compass Foundation and has played an essential role in making this exemplary, cross-sectoral and trans-professional collaboration possible.

Ms. Ágnes Sütő from the Hungarian Banking Association accepts the Investment Literacy Award

 

About the “BÉT Legek” Awards

For nearly twenty years, the Budapest Stock Exchange has held an annual ceremony, the “BÉT Legek” (Best of BSE) Gala, to recognize the best performances of the domestic capital market. A panel consisting of the members of the Stock Exchange Advisory Board decides on award recipients. In most of the categories, winners are selected on the basis of a quantitative methodology (for example, turnover data). In the case of the Online Trading Platform of the Year and the Financial Literacy Award, the winner is chosen after evaluating the entries received and - it the case of the former - on the basis of user ratings as well.

2018. November 12.

Sorry, this entry is only available in Hungarian.

2018. October 16.

Sorry, this entry is only available in Hungarian.

2018. October 09.

How not to get caught up in the web of fraudsters

PRESS MATERIALS

October 9, 2018

How not to get caught in the phishing net

 

Each month over 100 people in Hungary fall victim to phishing

Although companies in the market are continually improving their security systems, customers must also be more cautious

Over 100 cases of phishing are reported in Hungary each month according to statistics by authorities and corporations. This number, however only represents a fraction of the actual frauds committed: it is estimated that the number of people who fall victim to telephone and online fraud every year is among the thousands. Domestic market actors (credit institutions, telecommunication companies and utility service providers) apply advanced defense systems against phishers and alert their customers when they realize that fraud is being committed. Still, we must always pay just as careful attention to the money on our bank accounts as to the money in our wallets. With the aid of their joint press event and statement, the Hungarian Police Headquarters, the Hungarian Banking Association and the National Cyber Security Center would like to emphasize that preventing cyber crime is a common social interest and task.

2018. April 20.

Communiqué by the General Meeting of the Hungarian Banking Association

On 20 April 2018, the Hungarian Banking Association held its annual General Meeting, attended by the CEOs of financial institutions, as well as Mihály Varga, Minister for National Economy and Deputy Governors of the National Bank of Hungary: Ferenc Gerhardt.

 

The General Meeting commemorated Mr Zoltán Urbán, Member of the Hungarian Banking Association’s Board and former CEO of Eximbank, who had passed away tragically and unexpectedly.

The General Meeting elected Tamás Bernáth (MFB - CEO) as the new Member of the Hungarian Banking Association’s Board.

The CEOs of the Hungarian Banking Association’s member institutions have decided to issue the following statement:

Communiqué

We can report that after a long and difficult period following the year 2008, in 2017 the Hungarian banking sector closed an outstandingly good year. Last year’s profitability fits in with international and regional trends. The profits realised typically went into profit reserves, which, due to more intense lending activities, support the accelerating growth of the economy. The foundations of the banking sector’s positive results were laid down by the sector’s stable operation and the favourable evolution of lending costs. At the same time, keeping up with the dynamic rate of technical evolution and changing customer needs requires on-going rejuvenation, adaptation and innovation on the part of the sector’s players.

‘The banking sector can only serve the economy’s development in an economic environment offering predictable legal, taxation and governance conditions, and other economic players also expect a similar environment. Therefore, in our relationship with the legislator and the authorities, we continue to place the emphasis on co-operation and scrupulous professional discussions.’ – explained Mihály Patai, President of the Hungarian Banking Association.

All players in the Hungarian banking sector support the key joint objective of strengthening continuity and predictability in financial policy. This can ensure the successful short-term and long-term operation of businesses and creditors alike. After the dynamic utilisation of EU funds, a new era is approaching, where each economic player is compelled to find the competitive development path that will determine its future. The domestic banking sector has sufficient capital strength and liquidity for funding any necessary reorganisation and developments.

We must not forget about the international competitive situation either. In order to improve our competitiveness, it is essential that in the years ahead of us we quit the regulatory race taking place amongst European states, by overcoming bureaucratic over-regulation at national level. The achievement of this objective could be greatly helped if the legislator involved representatives of the financial sector in the preparatory process of legislation from an early stage in the regulatory process. To allow the Hungarian economy to perform well and in a sustainable way, and to facilitate its extension beyond national borders, the financing Hungarian financial institutions must reclaim and retain their regional competitiveness. Therefore, we consider the lifting of extra burdens, initially imposed as crisis management solutions, inevitable.  They include

  • the staged discontinuation of special taxes imposed on banks and financial institutions,
  • the whitening of the economy and the reduction and eventual withdrawal of the transaction levy, which goes against the elimination of cash, including, in particular
  • the abolishing of all forms of taxes and levies imposed in respect of free banking services (such as the free cash withdrawal allowance of 150 thousand HUF/month).

The Hungarian financial market is part of the European and global markets. At times when protectionist trends also threaten the Hungarian economy, the assertion of our interest can only be achieved subject to the harmonised development of the European Union and the deepening of economic integration, and therefore we are committed to these objectives. We also believe that the conclusion of Brexit negotiations in a way that allows existing economic connections to be retained, is to be commended. In terms of global bank regulations, we consider the globally consistent application of regulations desirable, to ensure that the development of the European Union’s financial system and the extension of its economy can take place free of competitive disadvantages, in a sustainable manner.

The Hungarian Banking Association traditionally grants awards to bank colleagues who have made a significant contribution to the operation and development of the banking sector, at its General Meeting. In 2018, the Hungarian Banking Association’s Golden Beehive Award was granted to:

  • Bence Gáspár (OTP Bank) for his outstanding communication activities and dedication in the banking sector;
  • Rita Jeges (Erste Bank) for her dedicated and constructive support for the Hungarian Banking Association’s work;
  • Marcell Király (K&H Bank) for his outstanding work in the corporate financing and SME development areas of the banking sector;
  • Róbert Nagy (Garantiqa Hitelgarancia) for his outstanding and innovative activities contributing to the growth of guaranteed lending to small and medium-size enterprises;
  • Attila Rankó (Deutsche Bank) for his outstanding professional activities in the area of payments and in the adaptation of European banking regulations.

20 April 2018

Photo: Dániel Németh

Hungarian Banking Association

2017. May 15.

Communication from the Hungarian Banking Association's General Meeting (12 May 2017)

Statement issued by the General Meeting of the Hungarian Banking Association

On May 12 ,2017 the Hungarian Banking Association held its annual General Meeting, which, next to the CEOs of financial institutions, also hosted guests Ágnes Hornung, Secretary of State at the Ministry for National Economy and the Deputy Governors of the National Bank of Hungary. At the General Meeting, elections were held for each member of the management.

The CEO’s of the Hungarian Banking Association’s member institutions have decided upon issuing the following statement:

 

Official statement

We can report about the year 2016 with confidence that the positive signs of a turning trend are already showing, which can be a stabilising, what’s more, invigorating factor in the growth of the local economy.

This is of special significance, given the fact that the financial sector has been suffering significant losses since 2008. As a result, internal cost levels were reduced to exceptional levels. At the same time, cost-cutting was marked by the transaction levy, booked as cost, as well as the exceptionally high level of special taxes. In the last decade, this went hand-in-hand with the inevitable postponement of numerous investments.

In 2016, the improvement of the economy in general, along with market recovery, created a one-off opportunity to cut back on bank provisions. The sale of card company stocks and dividends originating from foreign markets created revenues that were significant at sector level, but were also one-time or unique in nature.

’In response to market and innovation challenges, in the following years the banking sector will implement significant IT developments and investments. At the same time, banks will also have to maintain tight cost control, which will result in moderate growth even in the medium term, falling significantly short of the European average.’ – explained Mihály Patai, (RETIRING/RE-ELECTED) President of the Hungarian Banking Association.

The activities of the banking sector are characterised by a constructive evaluation of past events and a positive outlook, as well as intense competition not only on the domestic market but also in an international context. Hungary’s international position and its regional significance require the extension of both production and international co-operation, for which the banking sector can provide the development resources required.  At the same time, the bilateral confidence structure of financing necessitates the reinstatement of the banking sector’s reputation, which is the responsibility of all decision-makers. To be able to support the fast and plannable development of the economy, financing entities also need a predictable regulatory environment. This involves the reduction of special taxes to European levels, the abolition of the transaction levy and the drafting of legislation offering mortgage lenders the possibility to enforce their rights in an appropriate manner. The latter requires that changes are based on impact analyses, and are pre-planned and pre-agreed.

Digitalisation changes the services offered by financial institutions at an unprecedented rate. The costs of digitalisation developments will stay with the banking sector as key cost items for many years to come, while the effects of income / cost reduction will only be felt in the longer run. Digital progression can only be achieved in a safe manner if developments take place to the extent of real customer requirements, and in line with any changes in these. For this, as a core condition, we rely on deeper and more intense professional co-operation in both the Hungarian and European legislative process, and also in banking supervisory activities. We believe that human resources essential for such developments can be ensured by reducing bureaucracy and the administrative burden.

World economy is undergoing a process of change, and new challenges are diverse. It is the partnership and financial co-operation of the European Union and the North American economic zone – the world’s two most developed economic regions – that will ensure appropriate living standards and offer the possibility of on-going development. Therefore, boosting the international role the European Union plays is in our shared interest – and therefore is also in the interests of Hungary. Over the past years, the financial role of China has taken on a new dimension, while Russia’s influence in world matters has not diminished. By showing mutual respect for our differing historical development paths and cultures, we will see further economic and financial opportunities open, on the grounds of dialogue and shared interests. The continued organic development of the global economy and financial markets requires that key representatives of the world economy work in close co-operation. This can be significantly helped by international bank groups with a long tradition, which pursue intense activities in key countries of the world, and also locally, in Hungary.

As representatives of our sector, we must take a position on the direction and speed of Europe’s economic progression. International bank groups serve the entire European retail and business clientele along the same principles and in the same quality, also taking local requirements into consideration This also proves that Continental Europe can only be a strong, influential and stable area from an economic and financial aspect if it can ensure that and reduce, and in the long term eliminate the economic disparity still hindering progress. European international bank groups can facilitate this economic progress, which helps the elimination of disparity in the long term, by collecting funds, facilitating money flows and offering credit. In doing so, they have shared interests with financial institutions in Hungarian ownership, which also offer services to European standards, motivated by the sustainable development of Hungary, which is both their objective and a pre-condition to their existence.

The Hungarian Banking Association elects a new management once every three years, for which the time has come at the present General Meeting. At the General Meeting the Hungarian Banking Association HAS ELECTED XY AS ITS PRESIDENT/re-elected Mihály Patai, as its President; and HAS ELECTED/RE-ELECTED XY/András Becsei as its Vice President; XY/Henrik Auth as Chairman of its Ethical Committee. For the next three years, the following Board Members have been elected: XY/ Éva Hegedűs, Radovan Jelasity, Pál Simák, Zoltán Urbán, György Zolnai /XY.

It is by now a tradition that the Hungarian Banking Association recognises banking and partner colleagues who have made a significant contribution to the operation and development of the banking sector. In 2017 the Hungarian Banking Association’s Golden Beehive Award was granted to the following recipients:

• Anna Batka (Hungarian Banking Association) –  for her dedicated management of the accounting, taxation and data reporting work groups over more than a decade,

• dr. Attila Bógyi (OTP Mortgage Bank) – for his active and outstanding activities in the legislative process affecting the banking sector,

• Zoltán Makó (Riot Police; National Bureau of Investigation) – for his outstandingly effective efforts in preventing and combating bank card fraud,

• Gyöngyi Németh Szűcs (Unicredit Bank) – for her outstanding efforts in the area of accounting regulations,

• Gábor Weissmüller (Citibank) – for his high-quality professional contribution to the prevention and combating of financial fraud.

 

Budapest, May 12, 2017

Hungarian Banking Association