Finance

MNB

Central Bank Pledges Further Tightening After Rate Hike

The National Bank of Hungary (MNB) raised its key rate to 1.2% at its latest rate-setting meeting, with the 30-basis-point...

Trade

Romania selling on its jabs, despite low vaccination rates

Europe’s least-vaccinated countries are in no short supply of COVID-19 jabs - and yet Romania and Bulgaria are both looking...

Banking

MNB fines Erste HUF 19 mln

The National Bank of Hungary (MNB) yesterday fined Erste Alapkezelő, the local fund manager of Austria's Erste Group, a little...

Debt

ÁKK sells HUF 79.5 bln of bonds at auction

The Government Debt Management Agency (ÁKK) sold HUF 79.5 billion of bonds at auction on Thursday, HUF 14.5 bln more...

Banking

Serious interest in Széchenyi Card Program GO at OTP Bank

There has been serious interest in the Széchenyi Card Program GO, renewed on July 1, at OTP Bank branches, writes...

Trade

Paving the way for Future Hungarian Multinationals

Some 99% of the registered businesses in Hungary are small- and medium-sized. These companies are considered one of the main...

Banking

Lower impairment, higher operating income lift Erste earnings

Austria's Erste Group booked net income of EUR 84.7 million at its business in Hungary in the first half, after...

Banking

Raiffeisen H1 profit in Hungary rises to EUR 36 mln

Austria's Raiffeisen International (RBI) booked after-tax profit of EUR 36 million at its banking business in Hungary, up 64% from...

MNB

MNB raises base rate to 1.2%

The Monetary Council of the National Bank of Hungary (MNB) decided to raise the central bank base rate by 30...

MNB

MNB signs cooperation agreement with Chinese body

The National Bank of Hungary (MNB) has signed a cooperation agreement with the China Securities Regulatory Commission (CSRC) to promote...

Banking

EBRD sells stake in major Romania office owner Globalworth

The European Bank for Reconstruction and Development (EBRD) said it has decided to sell its 5% stake in Globalworth, the...

Debt

Gov’t deficit reaches HUF 1.704 tln

Hungary's cash flow-based government deficit, excluding local councils, reached HUF 1.704 trillion at the end of June, widening on stimulus...

MNB

Matolcsy chides gov’t for investing in brick and mortar, not brains

National Bank of Hungary (MNB) governor György Matolcsy on Monday said state investments behind the 5.9%-of-GDP budget deficit target for...

Banking

93,000 bank accounts have secondary identifiers

At the end of the first quarter of this year, more than 93,000 bank accounts had secondary identifiers, the press...

Debt

Bulgaria c/a turns to deficit in May

Bulgaria posted a current account deficit of EUR 98.9 million in May, following a EUR 2.7 million surplus in the...

Banking

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

Ratings

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

What Happens Next to What We’ve Built? New Challenges in Family Wealth Planning

Building a successful family business takes decades of work, but its future also depends on how carefully the transfer of...

Hungarian Banks Seek Gradual Reduction in 45% Effective Tax Burden

Hungarian banks hope for a “slow but certain” reduction in their tax burden, Hungarian Banking Association President Radovan Jelasity said...

MNB Probe Widens as International Arrest Warrant Issued for Ádám Matolcsy

International arrest warrants have been issued for Ádám Matolcsy, son of former Hungarian central bank Governor György Matolcsy, and businessman...

MNB Holds Base Rate at 5.5%, Maintains Symmetric Interest Rate Corridor

The Monetary Council of the National Bank of Hungary (MNB) left the base rate unchanged at 5.5% at its monthly...

Gránit Bank Hit by Largest Loan Loss Provision in Its History

Gránit Bank reported an additional approximately HUF 9.4 billion loan loss provision in the third quarter of 2026, the largest...

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

MNB International Reserves Fall to EUR 62.1 bln in September

The National Bank of Hungary’s (MNB) international reserves stood at EUR 62.061 bln at the end of September, down EUR...

K&H Bank and Mastercard Extend Strategic Partnership Through 2030

K&H Bank and Mastercard have extended their exclusive strategic partnership through 2030, with plans to expand personalized digital financial services...

OTP Forecasts Hungary’s GDP Growth at 1.7% in 2026, 2.5% in 2027

Hungary’s economy could expand by 1.7% this year and 2.5% in 2027, with household consumption driving growth in 2026, according...

Hungary Posts EUR 481 mln Trade Deficit as Import Volumes Jump 13%

Hungary recorded a EUR 481 million goods trade deficit in August as import volumes rose 13% year-on-year while export volumes...

Bayer Construct Gets Default Ratings After Bankruptcy Protection Filing

Scope Ratings has assigned default ratings to Bayer Construct following its bankruptcy protection filing, citing financial pressure linked partly to...

Former Central Bank Governor Matolcsy Questioned as Suspect in Erste Case

Police have questioned seven suspects, including former National Bank of Hungary Governor György Matolcsy, in an investigation into alleged abuse...

MNB to Lower Inflation Target to 2.5% From 2028, Holds Base Rate at 5.5%

The National Bank of Hungary (MNB) will lower its inflation target to 2.5% from Jan. 1, 2028, while retaining its...