Debt Restructuring and NPL Resolution Workshop

Magyar Nemzeti Bank 3 March 2015, Budapest

Organised by Magyar Nemzeti Bank and European Bank for Reconstruction and Development

Participant List Name Position Organisation Adastra Business Josef Rajko Engagement Manager Consulting Marton Eorsi Associate Allen&Overy Károly Fóti Counsel Allen&Overy Csilla Győri Associate Allen&Overy Andrew MacCallum Managing Director Alvarez and Marsal Ajay Rawal Managing Director Alvarez and Marsal Association of Andras Botos Secretary General Hungarian Mortgage Banks Plavcic Ilija Managing Director for CEE B2 Kapital Director CEEMEA Credit Bank of America Watt Simon Trading and Structuring Merrill Lynch Andrea Zanotti Analyst Bank of Italy Banking Head of Corporate Adrienn Berta Association/CIB Collection Bank Hungary Banking Zoltán Csordás Director Association/CIB Bank Hungary Banking Senior Credit Restructuring Bianka Pósa Association/Erste Manager Bank Hungary Nyrt. Prabby Mann Analyst BlackRock Solutions Jerome Finkel Director BlackRock Solutions Head of Workout Legal Gabor Barna CIB Bank Ltd. Services Head of Corporate Adrienn Berta CIB Bank Ltd. Collection Pal Simák Chairman and CEO CIB Bank Ltd. CMS Cameron Erika Papp Partner Mckenna LLp Vice President Head of Dmitry Zadvornov DDM Group AG origination Balázs Bíró Director, Advisory Deloitte Jonathan Daniel Director Deloitte Albert Marton Manager Deloitte Senior Banker, EBRD Elena Dimanina Restructuring, M&S Noel Edison Director, Financial EBRD

Institutions Anna Engström Consultant EBRD Michalis Senior Banker EBRD Kiourktsoglou Lead Economist, Central Alexander Lehmann Europe and the Baltic EBRD Countries Advisor to the Director in Mitja Mavko EBRD the Constituency Office Director, Country Strategy Piroska Nagy EBRD and Policy Lars Nyberg Consultant EBRD Nóra Kocsis Senior Banker and Adviser EBRD Elena Petrovska Head of Office, Budapest EBRD Volker Recker Senior Banker EBRD Dobrin Staikov Senior Banker EBRD Directorate General Macro- Maciej Grodzicki European Central prudential Policy and Bank Financial Stability Adviser, Directorate General Macro-prudential European Central Edward O’Brien Policy and Financial Bank Stability European Barbara Cattrysse DG Competition Commission European Frank Dupont DG Competition Commission DG FISMA, Financial Michal Strojwas European Stability, Financial Services Commission and Capital Markets Union Corina Weidinger DG Financial Stability, European Sosdean Financial Services and Commission Capital Markets Union Financial Institutions EIB Attila Jelinko Group, Central & South

East Europe Lending Operations Central Jean-Marie Masse EIB Europe Head of Division, Lending Paolo Munini EIB Operations Central Europe Senior Manager, Transaction Davide Artigiani Ernst & Young Advisory Services Partner Transaction Tuske Balazs Ernst & Young Advisory Service

Partner - EMEIA FSEO NPL Ian Cosgrove Ernst & Young solutions leader Akos Derer Attorney at Law - Banking Ernst & Young István Havas Country Managing Partner Ernst & Young Maggie Mills Partner Ernst & Young Senior Manager TAS - NPL Ernst & Young Darko Schwarzberger specialist for UK and CEE Sarolta Várszegi Attorney at law Ernst & Young Péter Vaszari Manager Ernst & Young Ernst & Young Tibor Palszabo Partner Tax Services Advisory Ltd. Zoltan Balazs Managing Director Erste Bank Zrt. Head of Corporate Work- Mátyás Neményi Erste Bank Zrt. Out and Restructuring Senior Restructuring Bianka Posa Erste Bank Zrt. Manager EU Commission, DG Laszlo Jankovics Economist Ecfin, Budapest HETA Asset Franz Deim Senior Project Manager Resolution Magyarország AG Hungarian Banking Peter Vass Associaton Senior Regional James Roaf Representative for Central IMF and Eastern Europe Head of ISB Deteriorated Francesco Del Genio Assets Foreign Banks Intesa San Paolo Department Head of International Paolo Sarcinelli Banking Subsidiaries Credit Intesa san Paolo Dept. Head of SME and Corporate Tom Blanckaert Credit Management K&H Bank Directorate Head of Corporate Advice, Marcell Király Underwriting and Special K&H Bank Credit Department Jonathan Abraham Director KBW-STIFEL Marcello Zanardo Manager KBW-STIFEL Király és Társa Law Gábor Király Lawyer office Manager, Portfolio Solutions Péter Szalai KPMG Group

Tamas Simonyi Senior Director KPMG Advisory Ltd. Partner and Head of Szabolcs Mestyàn Lakatos Köves Banking and Finance Péter Felfalusi Chairman of the Board MAKISZ Péter Kádár Deputy CEO MARK Csaba Kandrács CEO MARK Béla Zsebő Project Coordinator MARK Pilhal Zsolt Deputy CEO MARK Kirst Attila MARK Eszter Bársony Ministry of Justice Helga Hutter Ministry of Justice Emese Sárközi Ministry of Justice Péter Tanács Ministry of Justice Katalin Turcsan Head of Department Ministry of Justice Ministry of National Teodóra Tóth Senior Adviser Development Ministry of National László Balog Deputy State Secretary Economy Magyar Nemzeti Csaba Andó- Molnár Chief Supervisor Bank Magyar Nemzeti Ádám Balog Deputy Governor Bank Head of Division (Licensing Magyar Nemzeti Annamaria Filepkó Department) Bank Magyar Nemzeti Gergely Gabler Head of Department Bank Magyar Nemzeti Marianna Endrész KG Bank Magyar Nemzeti Gergely Fábián Head of Department Bank Magyar Nemzeti Gábor Horváth Project Coordinator Bank Magyar Nemzeti Nikoletta Kerekes Chief Supervisor Bank Magyar Nemzeti Kornél Kisgergely Executive Director Bank Magyar Nemzeti Kristóf Lehmann Head of Divison Bank Magyar Nemzeti Marton Nagy Executive Director Bank Dóra Palasik- Head of Licensing Magyar Nemzeti Kirschner Department Bank Magyar Nemzeti Daniel Palotai Executive Director Bank

Legal counsel (Legal Magyar Nemzeti Zsuzsanna Somosi Enforcement Department) Bank Magyar Nemzeti Gyöngyvér Szakál Policy Officer Bank Magyar Nemzeti Miklós Szebeny Analyst Bank Gergely Magyar Nemzeti Analyst Szentkereszty Bank Adviser, Office of the Pawel Gasiorowski President of the National NBP Bank of Poland Cristian Popa Former Deputy Governor NBR Ana Ivkovic General Manager NBS Head of Systemic Supervision Division, Vladimir Petrovic NBS Financial Stability Department Assistant General Manager, Milos Vasic NBS Supervision department Oesterreichische Stefan Kavan Financial Sector Expert Nationalbank Martin Partner, Financial Services Oliver Wyman Rauchenwald Krisztina Jávorszky Director OTP Bank Pal Kovács Managing Director OTP Bank Head of Corporate Csaba Tonkó Collection, Work-Out and OTP Bank Restructuring Laszlo Wolf Deputy CEO OTP Bank Lawyer - State Aid Prime Minister's Zoltán Bartucz Monitoring Office Office Prime Minister's Eszter Hargita Legal Counsel Office Prime Minister’s Gergely Kalocsay Legal Counsel Office Jana Herfurth Financial Services, Deals PwC Tibor Szabó Legal director PwC Radovan Dunajsky Raiffeisen Bank Zrt. Daniel Executive Director Raiffeisen Bank Zrt. Mitteregger Deputy Head of Corp. Oszkár Kiss Raiffeisen Bank Zrt. Restructuring and Workout Robert Bruckner Director RB Tracy Advisory Adrien Weber Partner in the Financial Roland Berger

Services Competence Center Tibor Deak Director Rothschild Philippe Le Baquer Managing Director Rothschild William Wells Managing Director Rothschild Balint Farkas Head of ALM Unicredit Group Head of Restructuring and Gabor Soós Unicredit Group Work-Out Gergely Horvath Partner White&Case Gabriella Pataki Senior Associate White&Case István Réczicza Managing Partner White&Case Patrick Wigan Director Wigan Acquisitions Diego Arroyo Ornelas Investment Director York Capital Szabó Kelemen & Péter Vincze Attorney-at-Law Partners Attorneys

PROGRAMME

3 March 2015 Magyar Nemzeti Bank

Debt Restructuring and NPL Resolution in Hungary Agenda

8:30 – 9:00 Registration and coffee

9:00 – 9:30 Welcome on behalf of EBRD Piroska Mohácsi Nagy, Office of the Chief Economist, EBRD

Welcome and overview of MNB’s NPL agenda Ádám Balog, Deputy Governor, MNB

9:30 – 10:30 Session 1: The NPL environment in Hungary Chair: Péter Kádár, Chief Risk Officer, MARK Group

NPL resolution Gergely Fábián, Head of Macroprudential Analysis, MNB

Perspective on corporate NPLs James Roaf, Senior Regional Representative, IMF Comments: Edward O’Brien, Adviser, Directorate General Macro-prudential Policy and Financial Stability, European Central Bank

Coffee break

11:00 – 12:30 Session 2: Legal and tax issues for NPL resolution and sales Chairs: Ian Cosgrove, Partner and Balazs Tuske, Partner, Ernst & Young

Tax issues and secondary markets for NPLs: obstacles and incentives Tibor Palszabo, Tax Partner and Balazs Tuske, Partner, Ernst & Young

Resolution of NPLs: enforcement, bankruptcy and liquidation frameworks Gergely Horvath, Partner, Head of Banking and Finance, White & Case Budapest

Panel discussion: • Márk Hetényi, CFO, MKB • Pál Kovács, managing director, OTP • Zoltan Balázs, managing director, ERSTE • Dr. Szabolcs Mestyán, partner, head Banking and Finance practice, Lakatos, Köves és Társai

• Zsolt Pilhal, Deputy CEO of MARK Group

Lunch break

13:30 – 15:15 Session 3: Best practices in NPL resolution: an international perspective Chair: Alex Lehmann, Office of the Chief Economist, EBRD

Corporate restructuring and workouts Ajay Rawal, Managing Director and Andrew MacCallum, Managing Director, Alvarez & Marsal Comments: Elena Dimanina, EBRD.

What role for ‘bad banks’? Mitja Mavko, Advisor to the Director, EBRD Constituency Office and former State Secretary at the Slovenian Ministry of Finance Comments: Martin Rauchenwald, Partner, Oliver Wyman.

Corporate NPL sales: the role of specialist investors Philippe Le Baquer, Managing Director, Rothschild Comments: Balázs Bíró, Director Advisory, Deloitte.

Coffee break

15:30 – 16:30 Session 4: Panel discussion – next steps for Hungary Chair: Piroska Mohácsi Nagy, EBRD

• Márton Nagy, Managing Director, MNB • Franck Dupont, Deputy Head of Unit, Financial Crisis Task Force, DG Competition, European Commission • László Balogh, Deputy State Secretary, Ministry for National Economy • Pál Simák, CEO, CIB Group • Csaba Kandrács, CEO, MARK Group

MAGYAR NEMZETI BANK PROTOCOL AND EVENT MANAGEMENT

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