Criticism of ad hoc interventions

These would weaken Hungary’s international competitiveness and shake market confidence. In a statement, the association emphasised that the measures, which represent an additional burden of tens of billions of forints, jeopardise the strategic partnership between the government and the banking sector. The association is particularly critical of the fact that the excess profits tax will not only remain in place in 2025, but will be increased even further.

The extension of the interest rate freeze in retail banking is also heavily criticised. The association argues that this measure rewards consumers who have taken the risk of variable-rate loans despite earlier warnings. Instead of taking responsibility, the state is now transferring the consequences of this decision to the banks. The artificially set reference interest rate of 2.02% instead of the 3-month BUBOR does not reflect any real economic, social or societal considerations.

The Bankers Association reaffirms its determination to continue working towards a stable and predictable economic environment, which is essential for international competitiveness. To this end, it is prepared to work together with the government.