Finance

Banking

OTP Completes Sale of Romanian Units

OTP Bank on Tuesday announced the completion of the sale of two of its Romanian units to Banca Transilvania....

Ratings

Moody’s Affirms K&H Bank’s A3 Deposit Ratings, Stable Outlook

Moody's Ratings has confirmed the A3/P-2 long- and short-term deposit ratings of Kereskedelmi & Hitel Bank Rt. (K&H), maintaining a...

Banking

Gránit Bank to Offer Cross-border Services in Romania

Hungary's Gránit Bank will offer cross-border digital banking services in Romania from Q3 2024, the lender said on Wednesday, according...

MNB

Policymakers Cut Central Bank Base Rate by 25 bp to 6.75%

The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 25...

Ratings

Moody’s Assigns A1 Ratings to MBH Mortgage Bank Covered Bonds

Moody's Ratings on Monday assigned A1 long-term ratings to covered bonds issued by MBH Mortgage Bank, according to a report...

Banking

Housing Loan Market Booms in H1

Almost 10% more loans were taken out in the Hungarian housing loan market in the first half of this year...

Banking

MNB Issues Instructions to Prevent Online Personal Loan Fraud

The National Bank of Hungary (MNB) has issued an executive circular instructing banks on measures to prevent fraudsters from taking...

Debt

Hungary C/A Surplus at EUR 838 mln in May

Hungary's current account had an EUR 838 million surplus in May, narrowing from EUR 1.16 bln in the previous month,...

Debt

ÁKK Sells HUF 73.5 bln of Bonds at Auction, Above Plan

The Government Debt Management Agency (ÁKK) sold HUF 73.5 billion of bonds at auction on Thursday, more than double the...

Banking

OTP Tops Ranking of Best-performing Banks in Europe

OTP Bank, Hungary's biggest commercial lender, heads a new ranking of Europe's best-performing banks published by S&P Global Market Intelligence,...

MNB

Budapest School for Central Bank Studies Offering Courses

The Budapest School for Central Bank Studies, the training school of the National Bank of Hungary (MNB), is offering intensive...

Trade

Beekeeping Association Files Complaint Against Chinese Imports

With the professional help of the Ministry of Agriculture, the National Hungarian Beekeeping Association (OMME) has filed an anti-dumping complaint...

Banking

Banking Assoc Protests Defense Contribution

"Serial" burdens the government has placed on the banking sector "severely limit" lenders' role in boosting economic growth, the Hungarian...

Banking

Loans Encouraging Some to Renovate, Most Worried About Difficulties

The possibility of state-subsidized loans encourages 23% of Hungarians to embark on renovation works, but almost everyone (93%) is somewhat...

Trade, Economy, Energy Trade

UAE Economy Minister Discusses Opportunities in Budapest

The Minister of Economy for the United Arab Emirates, Abdulla Bin Touq Al Marri, spoke about investment opportunities in the...

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...