Hungarian Banking Association leaders congratulated the new government in a statement and said lenders were prepared to play an active role in supporting economic growth, as long as there is a predictable economic policy environment based on market mechanisms with a level playing field.
The statement was issued after an annual meeting of the association's board, at which National Bank of Hungary (NBH) governor Mihály Varga and Finance Minister András Kármán spoke.
The association called for the gradual rollback of sectoral taxes, arguing that the bank levy, windfall profit tax and transactions duty did "more harm than good." The association added that a rate freeze on retail loans and requirements for installing ATMs interfered with market competition and were a detriment to promoting financial culture in the country.
The association said the promise of adopting the euro could give a boost to the whole economy, while establishing the conditions for a more predictable interest rate environment, with lower rates. It added that state-subsidized loans should complement market-based lending without distorting market supply and demand.
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