Main building of the Central Bank of Hungary under renovation

May 21, 2021 at 5:30 PM

On the centenary of the founding of the central bank in 2024, the headquarters of the institution will be renovated to their original form on Szabadság Square. The building was built in 1905, its external appearance has not changed since then, but its interiors were significantly remodelled after World War II, undermining its historical value. Now its original beauty will return, inside and out.

The Magyar Nemzeti Bank (MNB 'Central Bank of Hungary') has started the complete restoration of its headquarters on Szabadság Square. According to the announcement, the solemn handover of the listed building will be renewed inside and out to regain its original splendour. Completion of the project is planned for 2024.

The current headquarters were originally built as a bank building to house the Budapest branch of the Austro-Hungarian Bank. Ignác Alpár designed the historicizing, neo-baroque palace, and it was built between 1902–1905. Since its construction almost one hundred years ago, it has served as the main building of the central bank since its creation.

The building of the Austro-Hungarian Bank, later the Central Bank of Hungary, in 1905. The building on Szabadság Square was designed by Ignác Alpár and significantly remodelled after World War II. For the 100th anniversary of the Central Bank of Hungary's creation, the palace is being to its original form inside and out (Source: Fortepan, Budapest Capital Archives. Reference No.: HU.BFL.XV.19.d.1.08.120)

In its external appearance, the building has remained virtually unchanged since 1905. However, after World War II, its interior was changed significantly. Ignoring Alpár's original concept Ignác the first floor was split in two, and an extra floor installed: the floor lost half of its ceiling height, replacing the light, airy space with narrow, dark offices.

The originally open inner courtyard was covered, and the open loggias on the third floor were removed. In addition, serious aesthetic damage was also caused, as some of the painted glass windows made by Miksa Róth were covered with new masonry and ceilings.

Render of the central bank's renewed facade (Source: MNB)

The inner courtyard will return (Source: MNB)

Monumental staircase of the Szabadság Square headquarters (Source: MNB)

From a technical point of view, the MNB's headquarters have never undergone any major renovation. The electricity, water supply, cooling, heating and drainage systems are obsolete and would pose operational risks in the future.

Due to the unsustainable technical conditions, renovation has become inevitable, during which the original, pre-World War II plans are being recreated. At the same time, attention is being paid to ensuring that the central bank operates in a modern, energy-efficient building.

The central bank will continue its work in the office building at 55 Krisztina Boulevard during the renovation. According to the plans, the MNB will move back into its central building on the 100th anniversary of its creation in 2024.

Cover photo: The headquarters of the Central Bank of Hungary on Szabadság Square (Photo: Balázs Both/pestbuda.hu)

Budapest, Cental Bank of Hungary, Ignác Alpár, Magyar Nemzeti Bank, Miksa Róth, News, PestBuda, pestbuda.hu, Szabadság Square

⁰ ⁰ ⁰

A message from the former school: An exhibition in memory of János Neumann was opened at the Fasori Secondary School

March 29, 2023 at 9:00 AM

An exhibition was opened in János Neumann's former school, the Fasori Lutheran Secondary School, on the occasion of the 120th anniversary of the world-famous mathematician's birth. In the exhibition presenting the former Neumann milieu, paintings, graphics, photos, furniture, and objects tell the story of the art-supporting spirit of the noble bourgeois family at the turn of the century.

If the efforts of 1848 had not failed, Szabadság Square would be somewhere else today

March 28, 2023 at 12:30 PM

Do you know where Diadal Street or Szabad Sajtó Street was in 1848? Not where many would think. During the revolution of 1848, the street names of Pest and Buda also changed.

The renovated Angyalföld Reformed Church was handed over

March 27, 2023 at 4:00 PM

On 26 March, the renovated Frangepán Street Reformed Church was handed over. The 13th District church was built in 1933, the tower was restored in 2017, and the roof and facade were renovated last year. By the time of the ceremonial handover, the building had completely recovered its form ninety years ago.

More interesting articles

The Bridge Report, which brought a turning point in the history of Budapest

March 31, 2023 at 3:00 PM

A travel report that changed the history of Pest and Buda, as well as Hungary. The little book contributed to the change of half a thousand years of legal customs and the implementation of an investment of unprecedented size and technical quality. This book was The Bridge Report [Hídjelentés in Hungarian].

Drama on the university wall - The heroic monument was planned 95 years ago

March 30, 2023 at 9:00 AM

In the constant hustle and bustle of the Egyetem Square in Pest, the students may not even notice the monument that decorates the short section of wall between the church and the central building of ELTE. However, it commemorates their predecessors, the heroes who fought for their country in World War I, and those who heroically helped them. The first design of the dramatically collapsing soldier was born in 1928, ninety-five years ago.

The story of a famous clothing factory in Józsefváros

March 27, 2023 at 11:00 AM

Close to Nagyvárad Square, at the junction of Elnök Street and Orczy Road, there is a complex of buildings with a huge floor area. There is an office building, a jewellery store, a tailor shop, a communications technology company, a photography and video recording company, and even a table tennis club. In the 1960s and 1970s, one of the largest clothing manufacturers in the country operated behind the walls, but the story did not begin then but at the end of the 19th century.

Main building of the Central Bank of Hungary under renovation

Related articles

More interesting articles

Hozzászólások

More articles