Finance

MNB

EU transfers to Hungary reach EUR 4.4 bln in 2018

Transfers to Hungary of European Union development funding came to EUR 4.4 billion last year, or more than HUF 1.4...

MNB

World Bankʼs 2019 GDP forecast well below govʼt prediction

The World Bank forecasts Hungaryʼs GDP growth for 2019 to reach 3.2%, almost a whole percentage point under the Hungarian...

MNB

Trade surplus shrinks to EUR 496 mln in November

The surplus in the external trade in goods amounted to EUR 496 million in November 2018, with exports increasing by...

Ratings

Strong growth but structural challenges in CEE: Moodyʼs

Moodyʼs Investors Service has released a report about the CEE regionʼs economic outlook for the year 2019, saying that the...

Debt

ÁKK sells HUF 49 bln of securities at auction, over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 49.0 billion of securities at auction on Thursday, raising its...

MNB

MNB to tighten mortgage adequacy ratio

The Mortgage Funding Adequacy Ratio (MFAR), requiring lenders to back at least 20% of their net mortgage loans with long-term...

Debt

ÁKK switch auction bond sales fall short of plan

The Government Debt Management Agency (ÁKK) sold HUF 37.50 billion of bonds maturing in 2026 and 2028, accepting bonds expiring...

Debt

ÁKK sells HUF 40 bln of three-month T-bills, as planned

The Government Debt Management Agency (ÁKK) sold HUF 40 billion of discount three-month T-bills at auction on Tuesday, in line...

MNB

MNB intʼl reserves up EUR 2.69 bln in December

The National Bank of Hungaryʼs (MNB) international reserves stood at EUR 27.403 billion at the end of December, up EUR...

Debt

ÁKK sells HUF 88.5 bln of bonds at auction, over plan

The Government Debt Management Agency (ÁKK) sold a total of HUF 88.5 billion of bonds at auction on Thursday, raising...

MNB

Hungary plans no intʼl FX bond issues in 2019

Hungary plans no FX bond issues on international markets in 2019, the Government Debt Management Agency (ÁKK) said in a...

Debt

Sales fall short of plan at first ÁKK auction of 2019

The Government Debt Management Agency (ÁKK) sold HUF 40.0 billion of discount three-month T-bills at the first auction of the...

Banking

Last-minute agreement reached on minimum wage

Hungarian employers and unions reached agreement on minimum wage increases on Sunday, December 30, a day before the deadline. The...

MNB

State debt ratio falls to 72.4% at end of Q3

Hungaryʼs state debt as a percentage of GDP reached 72.4% at the end of the third quarter of 2018, revised...

Debt

ÁKK cuts T-bill sales at last auction of 2018

The Government Debt Management Agency (ÁKK) sold a combined HUF 72 billion of three and 12-month discount T-bills at its...

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...