NGM: the government welcomes the fact that commercial banks are also participating in the fight against price increases

The NGM pointed out that due to inflation-tracking fee increases, banking costs would have increased by 3.7 percent in April, which is why the government needed to take action. Further increases in service fees had to be prevented, and the increases that had already been made had to be reversed, so the Ministry of National Economy asked commercial banks to voluntarily limit prices and reduce fees.

They emphasized that the government welcomes the fact that commercial banks have accepted the government’s objective and are participating in the fight against price increases in the interests of families.

The ministry stated that the Hungarian banking sector is on stable foundations, which makes it possible to reduce bank fees. According to their announcements, the banks will voluntarily abandon the April inflation-tracking fee increase and restore their fees to the level of January 2025. This will be a significant relief for the population.

The government’s objective is clear: the costs of banking should remain at a fair level, and financial services should be widely available and affordable. This is of paramount importance for the everyday safety of people and the protection of pensioners, the Ministry of Finance stated.