Finance

Banking

Gov’t Launches Public Consultations on Subsidized Workers’ Credit

The National Economy Ministry on Wednesday announced the launch of public consultations on a government scheme to offer young Hungarian...

Banking

OTP Q3 Profits up 8% Y.O.Y.

OTP Bank, Hungary's biggest commercial lender, booked a consolidated after-tax profit of HUF 318.5 billion in the third quarter, climbing...

Ratings

Varga: Scope Affirms Hungary Investment-grade Rating, Stable Outlook

Berlin-based Scope Ratings has affirmed Hungary's investment grade sovereign rating with a stable outlook, Finance Minister Mihály Varga said in...

Trade

Hungary’s Trade Surplus Narrows as Exports, Imports Decline

Hungary’s external trade surplus reached EUR 1.2 billion in September 2024, according to fresh data from the Central Statistical Office...

Banking

Erste Bank Hungary After-tax Profit Reaches HUF 113 bln in Q1-Q3

After-tax profit of Austrian-owned Erste Bank Hungary reached HUF 113 bln in Q1-Q3, climbing from HUF 90 bln in the...

Trade

Hungary Farm Exports See Strong Growth in H1

The Hungarian government's agricultural and food industry reforms boosted farm export growth by 6.4% in the first half of the...

MNB

Maintaining Banks’ Strong Capital Position ‘Pivotal’ – MNB

The National Bank of Hungary (NBH) acknowledged a reduction in overheating risks, in spite of the gradual lending recovery, but...

MNB

MNB Ranks Hungarians Financial Health at 53/100

The National Bank of Hungary (MNB) revealed the results of its inaugural survey on Hungarians' financial health in a release...

Ratings

Fitch Points to Policy ‘Trade-offs’ in Hungarian Stimulus Plan

Rating agency Fitch said an economic action plan recently unveiled by Hungary's government contained policy compromises between economic growth and...

Trade

Demján Sándor Program to Support Exporting SMEs

The Demján Sándor program will support small and medium-sized enterprises and the growth of exporting companies, Richárd Szabados, the state...

Banking

InvestEU Guarantees to Mobilize Close to HUF 600 bln of SME Credit

European Union credit guarantees in the framework of the InvestEU programme will pave the way for outlays of close to...

Trade

External Trade Surplus Declines Sligthly in August

Hungary's external trade in goods recorded a surplus of EUR 671 million in August 2024, according to preliminary data from...

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...