MBH Bank faces pressure to reinstate scholarship for students in poverty

Péter Magyar has called on MBH Bank and Lőrinc Mészáros to reinstate a scholarship program for high-achieving students living in deep poverty. The International Children’s Safety Service reported that the bank is terminating the 32-year-old program, which previously supported approximately 100 children annually. Eligible students were those from families with a monthly per-capita income below HUF 55,000.

Magyar, acting on behalf of the Hungarian state—which holds a stake in MBH Bank—also demanded transparency regarding the bank’s construction of a new corporate headquarters, estimated to cost over HUF 100 billion. He criticized the decision to cut social support while proceeding with large-scale luxury infrastructure projects.

MBH Bank responded by stating that the decision to end the specific partnership was made last year as part of a new social sustainability strategy. The bank noted that it had provided sufficient notice to the International Children’s Safety Service to prepare for the transition and emphasized that it will continue to support social causes through other, more transparently managed partnerships.