The social responsibility strategy of the National Bank of Hungary (MNB) – overview and results

Eszter Hergár


The Fundamental Law and the MNB Act guarantee the central bank's organisational, operational, and financial independence. At the same time, the independence, significance, and social recognition of the MNB and the public assets under its management entail social responsibility. Published in May 2014, the MNB's Statute laid down the principles of the MNB's corporate social responsibility, and the Corporate Social Responsibility Strategy issued in June determined the central bank's key objectives and presented the details of the programme for their implementation. The National Bank of Hungary regards it as its mission to serve the public good by utilising its sustainable positive results, without jeopardising its primary objective and core tasks, and to support, as far as possible, the realisation of professional and social goals that reflect credibility, create value, and strengthen social cohesion. These values are reflected in the main pillars of the MNB's Corporate Social Responsibility Strategy, namely the improvement of financial literacy, the development of economic education and research infrastructure, the support for national culture and contribution to charitable activities. The Bank's CSR strategy was developed taking into account the practices of major foreign central banks. The results of the Bank's social responsibility activities over the last 7 years have significantly contributed to the implementation of the strategic objectives.

Keywords: National Bank Hungary (MNB), corporate social responsibility strategy - CSR strategy, volunteering, charitable activity