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Association: Bank levy reduction could boost lending

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The reduction of the bank levy, proposed by the Hungarian government, could support the placement of new loans worth approximately HUF 200 billion, vice-president of the Hungarian Banking Association András Becsei said today, according to Hungarian news agency MTI.

During an interview with Hungarian state-owned all-news channel M1 today, Becsei said the cut to the bank levy is expected to lead to increased lending and a cut to bank sector costs which would allow banks to provide more competitive services, MTI reported. 

Varga announced on Friday that the Hungarian government is planning to cut the bank levy by HUF 20 billion in 2017 for the banking sector as a whole. The minister also said that the government is considering incentives to boost the number of bank card payment systems in Hungary in order to cut the amount of cash in circulation. 

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