Bank group: Bank tax prevents growth

Conferences

The extra burdens on Hungary始s banking sector are restricting the sustainable growth of the whole economy, the head of the Hungarian Banking Association said at the body始s annual general meeting on Friday.

Cost of capital exceeds return on equity, Mih谩ly Patai said in a statement issued by the association. He said the banking sector was going through its own "seven lean years", adding that development was expected to be slow and the sector始s consolidation "not free from obstruction".

The joint aim of the banking sector and the government is an economic boost that a competitive banking sector can support through lending, Patai said. Levente Kov谩cs, the association始s chief secretary, said the operating costs of Hungary始s banking sector were unmatched in international comparison. The banking sector must be freed of its extra burdens for the sustainable economic growth of the country, he added.

ADVERTISEMENT

MNB聽Int'l Reserves Climb EUR 1.553 bln in January MNB

MNB聽Int'l Reserves Climb EUR 1.553 bln in January

IMF Urges Hungarian Authorities to Carry out Structural Refo... Government

IMF Urges Hungarian Authorities to Carry out Structural Refo...

GTC to Save 500 MWh a Year in V谩ci Greens D Sustainability

GTC to Save 500 MWh a Year in V谩ci Greens D

Mangalitsa Promotional Campaign Kicks Off Food

Mangalitsa Promotional Campaign Kicks Off

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.