Q3 2022 Financial Performance Review
MKB
Changes in the legal and regulatory environment
Post closing events
BANK
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Changes
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Corporate interest rate freeze: the interest rate freeze (only for loans already in stock) will also be extended to SME loans. The reference date for interest
rates is 28 June. The regulation will enter into force on 15 November (also retroactively) and will be in force until 30 June next year
Mortgage loan interest rate freeze: the interest rate freeze will also be extended to mortgage loans with maximum 5-yer interest periods. The measure
will enter into force from November and will remain in force until the end of June 2023.
Factory Rescue Programme: in the first round, HUF 150 billion will be available for large companies to invest in energy efficiency. Companies can apply if
they are expanding their energy supply capacity with a minimum investment of HUF 200 million. A decision was also made to launch a HUF 200 billion
Factory Rescue Guarantee and Credit Scheme
Széchenyi Card Programme: From 2023, fixed 5% loans will replace the fixed 3.5% loans which will expire at the end of the year as announced by the
Government, and will be available for investment, working capital, overdraft, micro, agricultural and tourism loans
Bank tax: the Banking Association and the Government are working together to develop a scheme to make the amount of bank tax dependent on lending
Széchenyi Card: the SZÉP-card pockets will be abolished, i.e. the amount on the card can be used for accommodation, catering and other purposes
without internal limits
Retail deposits over HUF 20 million and deposits of institutional investors: the interest paid on HUF denominated sights and term deposits with a
maximum 1 year maturity, concluded by 31 March 2023, may not exceed the average auction yield of a discount Treasury bill with a remaining maturity of
3 months
Energy-intensive SMEs: from now on, a company is considered energy-intensive if its energy costs reach 2% of turnover in 2021 (previously 3%)
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