The National Bank of Hungary has resumed consultations with the Hungarian Banking Association on expanding corporate lending and strengthening measures to counter cyber-enabled financial fraud, Governor Mihály Varga said after meeting banking leaders. The central bank set out priorities of materially increasing corporate credit, easing clients’ payment transaction burdens and pushing banks to take a more proactive role in preventing financial misconduct. With retail lending having grown strongly in recent months, the MNB flagged investment financing as the next focus and indicated it is ready to work with banks to increase competition in the corporate credit market, with particular emphasis on supporting small and medium-sized enterprises. The talks also include reducing payment transaction costs for both retail and corporate clients alongside maintaining financial system stability, price stability and financial market stability. The MNB also plans to launch a five-point initiative against financial cybercrime under a “Five-Strike” plan and expects to implement it with the Banking Association’s support. The renewed cooperation follows an early April agreement under which the MNB and the association committed to reduce retail banking fees and broaden client information and outreach.
National Bank of Hungary 2025-06-04
National Bank of Hungary resumes Banking Association consultations to boost corporate lending and roll out Five-Strike cyberfraud plan
The National Bank of Hungary has resumed consultations with the Hungarian Banking Association to expand corporate lending and counter cyber-enabled financial fraud. Priorities include increasing corporate credit, reducing payment transaction costs, and launching a "Five-Strike" initiative against financial cybercrime. The central bank aims to support small and medium-sized enterprises and enhance competition in the corporate credit market.