December 17, 2015 / 8:39 AM / 2 years ago

Hungary central bank governor says will focus on renewing bank sector - weekly

BUDAPEST, Dec 17 (Reuters) - The National Bank of Hungary (NBH) will focus on reviving the banking sector in the next three to four years, Governor Gyorgy Matolcsy said on Thursday, adding that strong regulation, not state ownership, was the main avenue for change.

Matolcsy, the architect of several sweeping economic reforms and a key ally of Prime Minister Viktor Orban, told the weekly Heti Valasz that banks need to be more profitable while also lending more to help the economy grow sustainably.

"We see a 10-12 percent return on equity desirable," he said. "We are far from that today." (Reporting by Marton Dunai and Sandor Peto Editing by Jeremy Gaunt)

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