MNB to pay dividend to budget by June at the latest

Telco

Image by Jessica Fejos

The National Bank of Hungary (MNB) is expected to pay a HUF 50 billion dividend from last yearʼs earning into the budget by June 30 at the latest, the MNB said today, according to Hungarian news agency MTI.

MNB noted that even with the dividend payment, profit reserves would remain over HUF 100 bln, providing sufficient collateral for possible risks. 

In 2014 MNB had HUF 24 bln in profits with reserves at HUF 36 bln. By 2015, profits grew to HUF 94 bln and reserves to HUF 63 bln. Reserves could reach HUF 108 bln by the end of 2016.

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