Finance

MNB

MNB Hails Pandemic Response, Charts Path to Recovery

The coronavirus pandemic hit the Hungarian economy at a time when its fundamentals were stable, and growth was strong, according...

Banking

Moving Next Door and Learning how to Move On

The businesses that come out strongest from the post-COVID period will be the ones that have been able to learn...

Banking

Poles amass a record PLN 1 tln in bank accounts

The savings that Polish citizens keep in banks have topped PLN 1 trillion (EUR 216 billion) for the first time,...

Banking

Romania’s annual bank deposits growth speeds up in Feb

The deposits of the non-governmental sector in Romanian banks grew 16.4% on the year to RON 427.7 billion (EUR 88...

Banking

Hungarian Bankholding announces 2023 launch date

Hungarian Bankholding Ltd. has approved the five-year business strategy for the merger of Budapest Bank, MKB Bank, and Takarékbank, looking...

Banking

MKB 2020 profit plunges 81% on COVID costs, lower revenue

After-tax profit of MKB Bank fell 81% to HUF 8.4 billion in 2020, declining on COVID risk costs and lower...

Trade

CCIU President Mari passes away

Francesco Maria Mari, the President of the Italian Chamber of Commerce in Hungary (CCIU) passed away suddenly at the age...

Debt

Serbia c/a balance swings to record surplus in Jan

Serbia recorded a current account surplus of EUR 249 million in January, versus a deficit of EUR 85 million in...

Banking

Fewer consumer loans in Poland in February

February witnessed a slump in consumer loans against the previous month, the National Bank of Poland reported on Monday....

Debt

ÁKK exchanges 35 bln of bonds at switch auction

The Government Debt Management Agency (ÁKK) exchanged HUF 35 billion of bonds maturing in 2022 and 2023 for ones maturing...

Banking

Futureal issues green bonds under BGS

Hungarian property developer Futureal issued a green bond with a nominal value of HUF 55 billion under the Bond Funding...

MNB

Policymakers leave base rate unchanged

The Monetary Council of the National Bank of Hungary (MNB) decided to leave the central bank base rate unchanged, at...

Debt

Bulgaria c/a swings to surplus in January

Bulgaria posted a current account surplus EUR 85 million in January compared to a deficit of EUR 12.7 million in...

Banking

OTP named best bank in Hungary by Global Finance magazine

New York-based Global Finance magazine named OTP Bank Hungary's best bank in 2021, according to a press release sent to...

MNB

Hungary c/a surplus at EUR 99 mln in 2020

Hungary's current-account surplus reached EUR 99 million for the full year in 2020, quarterly data released by the National Bank...

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...