Finance

MNB

Lockdown bites into Wabererʼs Q1 revenue

First-quarter revenue of listed Hungarian logistics company Wabererʼs fell 4.6% year-on-year to EUR 173.8 million because of lockdowns to contain...

MNB

Trade surplus at EUR 436 mln in March

In EUR terms, the value of exports fell by 7.3%, while that of imports by 5.5% in March 2020, compared...

Ratings

Tie Strings Loosened on Deficit Target

Apparently wedded to the idea of a “V”-shaped crisis, the government has updated its EU Convergence Program, stating that this...

MNB

Serbia to start paying compensation this week, minister says

Serbia’s government plans to start the payment of three minimum monthly salaries to employees of micro-, small- and medium-sized enterprises...

MNB

EIB lends EUR 30 mln to Erste Bank Montenegro for SMEs

The European Investment Bank and Erste Bank Montenegro have signed a EUR 30 million loan agreement to support companies in...

Debt

MNB Bond Funding for Growth Scheme purchases climb over HUF 215 bln

The National Bank of Hungary (MNB) has so far purchased HUF 215.2 billion of corporate bonds in the framework of...

Ratings

S&P downgrades outlook on Serbia to ʼstableʼ

S&P Global Ratings has changed Serbia’s sovereign credit rating outlook to stable from positive and affirmed the debt grade at...

Debt

ÁKK sells HUF 52.5 bln of bonds at auction, over plan

The Government Debt Management Agency (ÁKK) sold HUF 52.5 billion of bonds at auction on Thursday, raising its original offer...

Ratings

S&P changes outlook on Hungary rating to stable from positive

S&P Global Ratings on Tuesday affirmed Hungaryʼs "BBB" sovereign rating but changed the outlook to stable from positive because of...

MNB

EC clears EUR 1.55 bln Hungarian guarantee scheme for hard-hit companies

The European Commission approved a EUR 1.55 billion guarantee scheme to support companies negatively impacted by the coronavirus pandemic, according...

Ratings

Fitch Ratings revises Bulgaria’s outlook to stable

Fitch Ratings says it has re-affirmed Bulgaria’s sovereign long-term foreign and local currency Issuer Default Ratings at "BBB", but downgraded...

Ratings

Moody’s revises Romania’s outlook to negative

Moody’s Investors Service said it has changed the outlook on Romania to negative from stable while affirming the "Baa3" foreign...

Debt

Hungary issues EUR 2 bln of eurobonds as pandemic expenditures grow

Hungaryʼs government issued a six-year EUR 1 billion eurobond and a 12-year EUR 1 bln eurobond yesterday to secure financing...

Debt

ÁKK sells HUF 57 bln of bonds at auction, HUF 12 bln over plan

The Government Debt Management Agency (ÁKK) sold HUF 57 billion of bonds at auction on Thursday, HUF 12 bln more...

MNB

ÁKK cuts retail sales, raises HUF and FX bond issues in updated 2020 financing plan

Hungaryʼs Government Debt Management Agency (ÁKK) has cut its retail securities sales projection by more than a fifth while raised...

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...