Portfolio held the Future of Finance 2026 conference on Wednesday with more than 300 professional participants. The event, organised for the fifth time under this name, brought together financial-sector representatives and corporate finance professionals. During the conference the audience voted on key questions about the present and future of finance. The CFO of the year award, presented for the tenth time in cooperation with Credit Management Group and supported by MBH Bank, was given this year to Zovát Csaba, Chief Financial Officer of Futureal Group.
AI: expected effects on costs and revenues
In an audience vote and related panels, attendees expected companies to achieve 10–25% real cost reductions over the next five years. Two-thirds of respondents attributed at least part of that potential saving to artificial intelligence. On the revenue side, the relative majority also estimated a 10–25% positive impact over a similar time horizon.
The audience further judged that within a 3–5 year timeframe — and for one-quarter of respondents even sooner — AI could outperform humans in core tasks. Participants noted that AI could become the best banker, portfolio manager and risk officer in certain roles, a prospect with clear implications for financial-sector employment.
Private wealth management and wealth tax
Discussion on private wealth management and the future of the asset-management sector highlighted that 83% of the audience partly or fully agreed the past 15–20 years had been fiscally favourable for domestic private owners. Many participants saw the spread of Western European trust and family-asset management structures as necessary for this development.
At the same time, regulation is tightening. The audience expected further restrictions in the near term, and speakers were critical of the recently introduced wealth tax that levies a 1% rate on asset components exceeding HUF 1 billion.
The asset-management market in Hungary is growing, and in a lower government-bond yield environment it can further strengthen versus other investment forms. Over the next three years the audience considered investment performance and the introduction of innovative products the most important competitive factors. Exchange-traded funds (ETFs), largely foreign, remain popular and pose strong competition: more than one-third of respondents saw risk-management advantages in ETFs over traditional equity funds.
Retail lending: repayment alternatives and innovation
In the afternoon programme retail lending received significant attention. Panels discussed alternatives to annuity-style mortgage repayment, and an income-linked mortgage repayment model drew particular interest: over 90% of the audience believed such a scheme could be introduced in Hungary, if not universally, then at least in cases where both lender and borrower agree.
Overall, the audience rated innovation in retail lending relatively low (a score of 2 on the used scale), a judgement partly explained by regulatory volatility.
Otthon Start Program: potential tightening of rules
The future of the Otthon Start home-buying support programme attracted strong interest. Conference attendees confirmed market expectations that the government may tighten eligibility rules. Suggested possible measures discussed at the event included:
- Tightening the definition of a first-time homebuyer, for example aligning it with the MNB’s debt brake rules.
- Banning rental of properties purchased under Otthon Start for the entire loan term or at least the first five years.
- Requiring the borrower to establish residence in the property.
- Tightening rules on involving a co-borrower — for example preventing circumvention via marriage or counting only an existing or higher parental income when considering income.
Corporate finance and construction sector issues
In parallel sessions organisers addressed corporate finance and the finances of construction companies. Firms report that the biggest immediate problem is a decline in new contracts. Most companies do not rely on a single instrument to prevent customer non-payment, but use a combination of measures; many place trust in credit insurance and business-information services.
At the roundtable on corporate finance and CFOs, roughly two-thirds of the corporate audience said their company’s current position was better than or at least as good as a year ago. The main perceived risks remain government interventions and shrinking domestic demand.
Currency stance and market sentiment
Participants noted that the current euro exchange rate, around HUF 365, is no longer optimal for many firms. In the audience poll 52% preferred a weaker forint to boost competitiveness, while 17% favoured a stronger forint.
Conclusion
Votes and discussions at Future of Finance 2026 underlined that AI is increasingly seen as a strategic lever for cost savings and revenue growth, while tax and housing-policy changes — notably a new wealth tax and potential tightening of Otthon Start rules — could materially affect the domestic private-wealth market. For companies, an uncertain regulatory environment and a contracting home market remain the most pressing challenges.
