Finance

Banking

New head at KCG Partners’ tax practice

Bálint Zsoldos, senior tax advisor, has been appointed as the new head of tax practice at KCG Partners Law Firm,...

MNB

Serbian avg. net monthly wage rises in November

The average net monthly wage in Serbia was RSD 56,331 (EUR 479.50) in November 2019, rising 11.4% in nominal terms...

Ratings

S&P raises ratings of OTP, OTP Mortgage Bank to ʼBBB/A-2ʼ

S&P Global Ratings on Monday said it raised its long- and short-term issuer credit ratings (ICRs) on Hungaryʼs OTP Bank...

MNB

Slovakia c/a gap narrows in November

Slovakia’s current account deficit narrowed to EUR 284 million in November 2019 from EUR 514 million in the same month...

Debt

ÁKK sells HUF 61 bln of securities; demand strong for floater

The Government Debt Management Agency (ÁKK) sold a combined HUF 61 billion of securities at auction on Thursday, cutting its...

MNB

Serbia repaying old debts regularly

A total EUR 241.64 million worth of old loans - principal and interest - matures in 2020, according to National...

Debt

ÁKK sells HUF 40 bln of bonds at switch auction

The Government Debt Management Agency (ÁKK) sold HUF 40 billion of bonds maturing in 2026 and 2031, accepting ones expiring...

MNB

ÁKK to buy back USD 1 bln of government bonds, says Varga

The Government Debt Management Agency (ÁKK) will be buying back USD 1 billion of high-interest rate government bonds, Finance Minister...

MNB

Croatia jobless rate falls in December

Croatia’s unemployment rate declined to 7.9% in December 2019 from 9.6% in the corresponding month of the previous year, figures...

Debt

ÁKK sells HUF 37.5 bln of 3-month T-bills, over plan

The Government Debt Management Agency (ÁKK) sold HUF 37.5 billion of discount three-month T-bills at auction on Tuesday, raising its...

MNB

FDI into Bulgaria rises in Jan-Nov

Bulgaria recorded a net inflow of foreign direct investment of EUR 989.2 million in the January-November period of 2019, compared...

MNB

Plusz bond stock close to HUF 3.377 tln

Subscription of Hungarian Government Securities Plusz bonds for retail investors has reached almost HUF 3.377 trillion, weekly data released by...

MNB

EBRD invests record EUR 516 mln in Serbia in 2019

The European Bank for Reconstruction and Development achieved a historic record in Serbia in 2019 with EUR 516 million of...

Banking

Number of KIVA businesses to rise over 50,000

The number of Hungarian businesses who have opted to pay the Small Business Tax (KIVA) will rise over 50,000 this...

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...