Finance

MNB

MNB fines KDB Bank HUF 20.75 mln

The National Bank of Hungary (MNB) on Friday said it fined KDB Bank a combined HUF 20.75 million over shortcomings...

Banking

Banks Face Financial Burden While FinTechs Stay Exempt

The Hungarian banking sector is still subject to a sectoral tax. While local banks are doing much better today than...

MNB

Coronavirus a Further Threat to Weakening Forint

Although analysts had forecast a further weakening of the forint for 2020, the rate at which the Hungarian currency depreciated...

MNB

Albania average gross wage growth slows in Q4

Albania’s average gross monthly wage increased 2.2% year-on-year to ALL 53,458 (EUR 431) in the fourth quarter, after rising 3.7%...

Debt

ÁKK sells just HUF 17 bln of bonds, scrapping 10-, 20-year sales

The Government Debt Management Agency (ÁKK) scrapped planned sales of 10- and 20-year bonds at auction on Thursday because of...

Debt

Daimler Hungary unit raises over HUF 40 bln from BGS bond sale

Mercedes-Benz Manufacturing, the Hungarian unit of German automotive industry giant Daimler, raised HUF 40.3 billion in proceeds from the sale...

Debt

ÁKK buys back HUF 14.35 bln of bonds early at reverse auction

The Government Debt Management Agency (ÁKK) bought back a combined HUF 14.35 billion of bonds expiring in 2021 before maturity...

MNB

Wingholding announces EUR 100 mln 2020-2021 bond program

Hungarian property developer Wingholding on Monday published the prospectus for a EUR 100 million bond program for 2020-2021, state news...

MNB

Trade surplus at EUR 433 mln in January

In EUR terms, the value of exports increased by 2.8% and that of imports by 2.4% in January 2020 compared...

Debt

ÁKK sells HUF 30 bln of 3-month T-bills, as planned

The Government Debt Management Agency (ÁKK) sold HUF 30 billion of discount three-month T-bills at auction on Tuesday, in line...

Ratings

Moody’s revises Montenegro’s outlook to stable from positive

Moody’s Investors Service changed on Montenegro’s sovereign credit rating outlook to stable from positive and affirmed the debt grade at...

MNB

Net FDI inflow into Montenegro increases in 2019

The net inflow of foreign direct investment (FDI) into Montenegro rose to EUR 344.7 million (USD 383.9 million) in 2019,...

MNB

Bulgaria Q4 GDP growth revised down

Bulgaria’s economy advanced 3.1% year-on-year in the last quarter of 2019, below preliminary estimates of 3.5% and easing from a...

MNB

MNB intʼl reserves fall EUR 1.974 bln in Feb

The National Bank of Hungaryʼs (MNB) international reserves stood at EUR 24.871 billion at the end of February, down EUR...

Debt

ÁKK sells HUF 41.5 bln of securities at auction, over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 41.5 billion of securities at auction Thursday, HUF 6.5 bln...

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...