Finance

MNB

More Partners Join Central Bank CyberShield Initiative

State-owned lottery company Szerencsejáték and payment companies Visa and Mastercard have joined CyberShield, a project of the National Bank of...

Ratings

Fitch Revises Hungary’s Outlook to ‘Stable’, Affirms Debt Grade

Credit ratings agency Fitch revised its outlook on Hungary to "stable" from "negative" and affirmed the debt grade at "BBB,"...

Ratings

Moody’s Affirms OTP Rating, Changes Outlook to ‘Negative’

Moody's Ratings yesterday affirmed the "Baa3" senior unsecured debt rating of OTP Bank, Hungary's biggest commercial lender, but changed the...

Ratings

Moody’s Withdraws MOL Ratings for Business Reasons

Moody's Ratings has withdrawn the Baa3 long-term issuer rating of MOL Hungarian Oil and Gas Plc (MOL), as well as...

Banking

Retail Credit Rate Freeze Extension to Save Borrowers HUF 20 bln

A government decree extending a rate freeze on retail credit for another six months will save borrowers HUF 20 bln,...

MNB

Varga Accepts Nomination as MNB Governor

Minister of Finance Mihály Varga said that he will accept the nomination for the role of Governor of the National...

Trade

Hungary’s External Trade in Services Posts EUR 3.5 bln Surplus in Q3

Hungary recorded a EUR 3.5 billion surplus in external trade in services during the third quarter of 2024, according to...

MNB

MNB: Hungarian Banking System ‘Stable’, ‘Resilient’

The Hungarian banking system remains "stable" and "resilient to shocks", while bolstered by "outstandingly high profitability", Zita Fellner, a senior...

Finance

Most Companies Able to Manage Higher Payroll Costs – Chamber Survey

Around 85% of businesses expect to be able to manage higher payroll costs resulting from wage increases, a representative survey...

Ratings

Fitch Rates Upcoming Magyar Eximbank Bond Issue ‘BBB’

Fitch Ratings has assigned a "BBB" long-term rating to senior unsecured notes to be issued by Magyar Eximbank....

Banking

OTP Bank Estimates HUF 53 bln Windfall Tax Burden for 2025

OTP Bank Nyrt. announced that its Hungarian group members could face a windfall profit tax burden of approximately HUF 53...

Banking

Gránit Bank Transitions to Public Company, Lists Shares on BSE

Gránit Bank has transitioned from a privately held company to a publicly traded company as of Nov. 25, 2024, and...

MNB

Policymakers Leave Base Rate Unchanged at 6.5%

The Monetary Council of the National Bank of Hungary (MNB) left the central bank base rate unchanged at 6.5% during...

Banking

Banking Assoc ‘Partner’ in Effort to Support 1st-Time Homebuyers

The Hungarian Banking Association said it was a "partner" in efforts to help young Hungarians buy their first home in...

Debt

ÁKK Sells HUF 54.5 bln in Bonds at Auction, Exceeding Target

The Government Debt Management Agency (ÁKK) sold HUF 54.5 billion in bonds at auction on Thursday, surpassing its planned offer...

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...