Varga: Banks that increased lending after 2009 will be rewarded

Telco

A tax benefit will be granted to banks that increased their lending activity after the financial crisis, Minister of Economic Affaires Mihály Varga announced on Tuesday, according to Hungarian news agency MTI. 

The size of the benefit will be 30% of the bank levy paid by the bank with a cap of HUF 10 bln in 2016, the minister added. According to Varga, the Hungarian Banking Association is in support of the initiative, regardless of the fact that it is not in line with the agreement in place between the government and the European Bank for Reconstruction and Development (EBRD).

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