March 19, 2020 / 11:37 AM / 14 days ago

Hungary's banks can cope with loan repayment moratorium -minister

BUDAPEST, March 19 (Reuters) - Hungary’s finance minister said on Thursday that the banking sector had sufficient room of manoeuvre to support the government’s blanket moratorium on all loan repayments until the end of the year, after a highly profitable year in 2019.

Finance Minister Mihaly Varga said, after talking to the Banking Association, that banks would automatically suspend repayment obligation on loans, but those borrowers who wish to continue servicing their loans can choose to do so. (Reporting by Krisztina Than)

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