The deputy chief executive of Hungary's largest bank OTP Nyrt. (OTP.BU) urged the government Tuesday to consult with the industry on its plans to introduce a tax on financial trades.

The government announced last week that it has finished work on the tax, which it expects to generate 130 billion forints ($572.7 million) next year.

The Hungarian Banking Association says the proposed tax will curb lending and stifle economic growth.

OTP Nyrt deputy chief executive Laszlo Bencsik said he hopes the government is open to discussing the tax with the lobby group.

"There's need for careful preparation related to such a step," he said.

-By Veronika Gulyas, Dow Jones Newswires, +361-267-0622; veronika.gulyas@dowjones.com