Former CMS Senior Counsel Csongor Tompa has joined Bird & Bird’s Budapest office as Head of the Banking & Finance and Capital Markets practices.

Paksoy has advised the European Bank for Reconstruction and Development on a EUR 50 million loan to Yapi Kredi Leasing.

The Ministry of Economy has officially announced the opening of the call for submission of applications under the state aid scheme regulated by Government Decision no. GD 959/2022 for financing assets and/or salary costs. The period for submitting financing requests is scheduled between 1 November 2022 to 16 December 2022, when investors may file the relevant documentation.

Wardynski & Partners has advised Ingka Centers on the sale of the Centrum Franowo shopping center in Poznan to Opal CF. SSW Pragmatic Solutions has advised mBank on financing the deal. Taylor Wessing advising Opal CF on the financing. KKS Legal reportedly advised Opal CF on the acquisition transaction.

On 5 August 2022, the Central Bank of Hungary (MNB) announced an update to its supervisory recommendation for credit institutions and Hungarian branches of credit institutions on climate-related and environmental risks. The recipients have to identify, manage, monitor and disclose climate and environmental risks.

As of 1 July 2022, Hungary's already existing financial transaction tax has been extended to payment service provision, credit and loan provision, currency exchange and mediated currency exchange services provided on a cross-border basis in Hungary. Provision of cross-border services means financial services provided in a country other than the country where the seat, place of business, head office, or branch of the service provider is located. Basically, this means that non-Hungarian service providers providing such services to Hungarian customers will most probably be affected by this extension.