Banking association chief reacts to PM bank comments

Initiatives

Hungary's banks have no knowledge of any new borrowing plans with regard to the state support program for borrowers struggling to repay their foreign currency-denominated loans because of the weaker forint, Hungarian Banking Association chief secretary Levente Kovács said on Wednesday, reacting to comments by Prime Minister Viktor Orbán.

Orbán said in an interview on public radio broadcaster MR1 that banks will have to share part of the burden of the support program for borrowers with foreign currency-denominated loans and that sharing this loss would be one of the most important tasks to complete in the autumn. He added that the program could be expanded with new elements.

At present, the establishment of an asset manager to purchase the homes of borrowers close to default is on the agenda, Kovács said. It is important that assistance go only to the poor, and that it be genuine assistance, he added.

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.