Banks deny enhancing profits during wartime

The unpredictability of a series of burdens and measures introduced by the government “has significantly restricted the lending capabilities of the Hungarian bank sector, its international competitiveness and role in stimulating the economy,” the statement added.

Measures announced in the official gazette Magyar Kozlony late on Monday, the so-called “defence contribution”, further advantage fintech providers that offer cross-border services, the statement said.

At the same time, the Hungarian banking sector is one of the government’s most important partners in implementing its economic policy, from managing the pandemic to family policy, SME financing, digitalisation and infrastructure development, “demonstrating its dedication on a daily basis”, it added.