MNB to pay dividend following improved forecast, lower risks

Telco

The board of the National Bank of Hungary (MNB) decided to pay a HUF 50 billion dividend into the budget from last yearʼs HUF 95 bln profit following an “improved profit prognosis” and “lower risks”, deputy governor Márton Nagy said yesterday, responding to a query by Hungarian news agency MTI.

The HUF 100 bln in profit reserves is “sufficient”, Nagy said. 

The MNB said last week that it would pay the HUF 50 bln dividend, backtracking on a plan announced in February to put all profit into reserves, as in previous years, raising reserves to over HUF 150 bln, which would be a record high.

Nagy said the central bank had since reassessed the profit forecast.

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