Finance

MNB

MNB, Business Chamber Sign Cooperation Agreement

The Central Bank (MNB) and the Hungarian Chamber of Commerce and Industry (MKIK) signed a cooperation agreement on knowledge-sharing and...

Ratings

S&P Upgrades OTP Bank to ‘BBB/A-2’; Outlook Negative

S&P Global Ratings on Monday raised its long- and short-term issuer credit ratings on OTP Bank and OTP Mortgage Bank...

Ratings

Nat’l Economy Ministry: Hungary Maintains Investment-grade Rating

S&P Global Ratings has affirmed its sovereign credit ratings on Hungary, putting the country in the investment-grade category along with...

Banking

Banking Association: Lenders Play Part in Bringing Down Inflation

Hungary's banking sector is committed to the sustainable financing of the national economy and will play a part in bringing...

MNB

Central Bank Gov, Lenders Agree on Retail Banking Fee Cuts

MNB and the Hungarian Banking Association have reached an agreement that will make banking costs simpler, more transparent and cheaper,...

Debt

Debt Management Agency Fulfills 38% of 2025 Financing Plan in Q1

Hungary's Government Debt Management Agency (ÁKK) has fulfilled approximately 38% of the planned gross issuance for 2025 in the first...

Banking

Raiffeisen Bank Zrt. Earnings Climb With Both Client Loans and Deposits Rising

Consolidated after-tax profit of Austrian-owned Raiffeisen Bank Zrt rose 12% to HUF 116 billion in 2024, an earnings report posted...

Banking

Around 17,000 Apply for Subsidized Blue Collar Workers Credit

Approximately 17,000 young Hungarian blue-collar workers have applied for subsidised credit in a scheme launched at the start of the...

Banking

Central Bank Raises Hungarian Inflation Forecast for 2025

The National Bank of Hungary (MNB) raised its inflation forecast in a quarterly report published in full on Thursday, March...

MNB

National Bank Policymakers Leave Base Rate on Hold at 6.5%

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

Banking

Stability and Profitability Still Hallmarks of CEE Banking Market in 2024

Despite the challenges of recent years, such as geopolitical tensions and changes in the macroeconomic environment, banks have continued to...

Banking

Minister, Banking Leaders Discuss Expanding ATM Network

Top officials of the Hungarian Banking Association have met with National Economy Minister Márton Nagy to discuss expanding the nationwide...

MNB

Varga Sworn in as MNB Governor by Sulyok

Mihaly Varga was appointed to a six-year term as Governor of the National Bank of Hungary (MNB) by Hungary’s President...

MNB

New National Bank of Hungary Governor Signs First Banknote

Mihály Varga, the recently appointed governor of the National Bank of Hungary (MNB), put his signature on a banknote issued...

Banking

EBRD Extends New Guarantee to OTP Leasing Ukraine

The European Bank for Reconstruction and Development (EBRD) on Friday said it was extending an unfunded portfolio risk-sharing facility to...

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...

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...

Net-zero Transition Becoming a Core Banking Issue

Banks have a central role to play in financing Hungary’s transition to a lower-carbon economy, not by withdrawing from carbon-intensive...