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.
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