Budapest, 11 November 2026 – “With its stable foundations, Hungary’s banking system continues to support financial stability, despite the global economic uncertainties,” according to MNB Governor Mihály Varga, speaking at the OTP Fáy Education Innovation Awards ceremony. Governor Varga highlighted that, in addition to stable financial institutions, fostering financial awareness and supporting innovative solutions was still necessary for the financial system to function efficiently.
Varga stressed that for quite some time Hungary’s banking system had been characterised by high profitability and liquidity, as well as a stable capital position. The ratio of non-performing loans remained low, at 1.5 percent in the household sector and 3 percent in the corporate sector. He added that OTP, as the largest Hungarian-owned bank, still played a key role in such a favourable position of the banking sector. The Governor pointed out that another important prerequisite for maintaining financial stability was that market participants make prudent, rational financial decisions in the long term. Bearing this in mind, the MNB paid special attention to fostering financial literacy. Governor Varga highlighted that the OTP Fáy Foundation helped young people and teachers develop new educational solutions, similar to the banking sector supporting the realisation of corporations’ innovative ideas via loans, with the Foundation contributing to the financial education of 80,000 young people this year. Discussing the innovation awards, Governor Varga noted that the Foundation’s award-winning developments facilitated learning by leveraging the potential of artificial intelligence and experiential education. He added that fostering innovative thinking and financial literacy both contributed to the successful preparation of future generations.
Magyar Nemzeti Bank