Overview
The Magyar Nemzeti Bank is Hungary's integrated central bank: since the 2013 absorption of the separate supervisory authority it combines monetary policy, macroprudential policy, resolution, payment system oversight, financial supervision and consumer protection in one institution, and since 2024 it has been Hungary's MiCA competent authority. At the end of 2025 it exercised full-scope supervision — prudential, consumer protection, anti-money-laundering or issuer — over 1,065 institutions, with some form of supervision over more than a thousand more. During the year it closed 57 prudential and 761 consumer protection investigations, 41 market surveillance proceedings, six issuer target investigations and seven AML investigations, and imposed HUF 2,556 million in fines. Everything below is the MNB's own data, from its Annual Report 2025 and its published organisational data.
MNB is an integrated central bank. The staff figure covers the whole institution, including monetary policy, currency and reserve management functions alongside supervision, and is not directly comparable with standalone supervisory authorities.
Regulated sectors
8BanksPayment institutionsE-money institutionsInvestment firmsAsset managersCrypto-asset service providersInsurance companiesPension funds
Figures as published by Magyar Nemzeti Bank for FY2025. Source: MNB Éves jelentés 2025 (Hungarian) (Signed Budapest, 30 April 2026). Data as of 31 December 2025. Supplementary: Annual Report index (English).
Leadership
3Mihály VargaGovernorsince 2025
Levente Sipos-TompaDeputy Governor for supervision of financial organisations and consumer protectionsince 2025
Zoltán KuraliDeputy Governor for monetary policy, financial stability and foreign exchange reserve managementsince 2025
Full board
Organisation (FY2025)
Staff1,566Closing statistical headcount of active employees at 31 December 2025; whole-institution basis — monetary policy, cash logistics, statistics and supervision together
Staff — alternative measures1,660 annual avg · 1,557.5 monthly avg (Dec) · +118 in legal establishment · 72 executivesMNB publishes several measures. The 1,660 annual average reflects the collective redundancy during 2025 — the year opened at 1,775.6 and closed at 1,557.5
Staff trend in year1,775 (Mar) → 1,576 (Jun) → 1,565 (Sep) → 1,566 (Dec)A collective redundancy took place during 2025
Operating costsHUF 91,125m (~€252.8m)Actual operating costs, not budget. 4.4% below the approved plan excluding central reserve; 4.8% above 2024. Increase concentrated in personnel costs, partly from insourcing bank-security work previously done by a subsidiary
Capital investmentHUF 93,976.4m (~€260.8m)Realised against an approved plan of HUF 96,309.7m. Includes HUF 79,590.5m (~€220.8m) on the headquarters reconstruction
Result for the year−HUF 554.0bn (~−€1.54bn)HUF 234.7bn smaller loss than 2024. No budget compensation obligation arose
Supervised entities (end-2025)
Institutions under full-scope supervision1,065Full-scope = prudential, consumer protection, AML or issuer supervision
Institutions under other supervisionMore than 1,000 further institutionsReported separately — the MNB's authority activity now spans a wider population than prudential supervision alone
Supervisory activity 2025
Prudential investigations closed57
Consumer protection investigations closed761Of which 754 were opened on application; application-initiated proceedings have been rising
Market surveillance proceedings closed41
Issuer supervision target investigations closed6Plus 19 issuer decisions and one further target investigation on periodic and ad hoc disclosure
AML investigations closed7
Consumer contacts24,936Customer Service Information Centre, down 0.3% on 2024. Avg 126 cyber-fraud reports/month
Warning letters~90Preventive letters to market participants, alongside thousands of domestic and international warnings published on the MNB's institution search page
Estimate Enforcement 2025
Fines imposedHUF 2,556m (~€7.1m)Calendar year 2025. Split: market surveillance HUF 1,360.25m · prudential HUF 764.74m · consumer protection HUF 274.6m · AML HUF 134m · issuer supervision HUF 20.5m · procedural HUF 2m
Crypto / MiCA
FY2025CASP and issuer procedures opened in 20253 CASP · 1 issuerOne service-provider procedure still running at year-end; in the other cases applicants withdrew
National transitional periodExpired 1 July 2025 under §16 of Act VII of 2024MNB acted to suspend the activity of providers without a licence — a year before the EU-wide maximum
Notable 2025
Integrated authorityOne of Europe's few genuinely integrated authorities: monetary policy, macroprudential, microprudential, conduct and consumer protection, resolution and payment oversight all sit in one institution — and the Financial Arbitration Board that handles out-of-court disputes sits there too.
MiCA competent authority ahead of most member statesHungary designated the MNB as its MiCA competent authority through Act VII of 2024, ahead of most member states, and closed its national transitional period on 1 July 2025 — a year before the EU-wide maximum.
Crypto validation obligationA validation obligation introduced by §9/A(1) of the Crypto Act led the MNB to work with the Regulatory Authority for Regulated Activities during H2 2025; several domestic and international CASPs subsequently suspended services in Hungary.
Fines compositionMarket surveillance produced the largest share of 2025 fines by value — HUF 1,360.25m of a HUF 2,556m total.
Anti-fraud programmeLaunched a Central Fraud Filtering System and a five-part anti-cyberfraud package during the year, and reported a fall in the value of card and transfer fraud.
AML perimeter widenedClosed-end investment funds, crypto-asset service providers and the Hungarian State Treasury were added to the population the MNB supervises for AML purposes.
Key legislation
4Act CXXXIX of 2013 on the Magyar Nemzeti Bank (MNB Act)Central-bank statute and integrated supervisory mandate
Act CCXXXVII of 2013 on Credit Institutions and Financial EnterprisesBanking (CRD/CRR)
Act CXXXV of 2011 on Payment ServicesPSD2 transposition
Act VII of 2024 on Crypto-AssetsHungarian MiCA implementation; national transitional period ended 1 Jul 2025
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