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Banking Association chairman resigns

Hungarian Banking Association chairman Mihály Patai has resigned, the professional body's chief secretary told MTI on Tuesday.

Levente Kovács noted that Patai had said earlier he would resign if Parliament approved a package of measures that presented banks with an impossible burden without first holding professional consultations. Parliament is expected to approve on Tuesday legislation that will defer a 50% reduction in the bank levy next year. The Hungarian Banking Association said earlier that the decision to defer the reduction, one of many fiscal measures announced by the government in October, violated a cooperation agreement with banks. Under the pact, the government agreed to first consult with banks before taking decisions on matters affecting the sector. The Hungarian Banking Association has started preparations for an extraordinary general meeting that will appoint a new chairman, Kovács said. Vice chairman Dániel Gyuris will oversee the association in the interim period under the body's bylaws, he added.