Finance

MNB

MNB International Reserves Fall EUR 1.484 bln in June

International reserves of the National Bank of Hungary (MNB) stood at EUR 46.251 bln at the end of June, down...

Trade

Trade Surplus at EUR 1.1 bln in May

The surplus of Hungary's external trade in goods amounted to EUR 1.1 billion in May 2024. Its level decreased by...

Ratings

Scope Affirms AutoWallis B+ Issuer Rating, Outlook Stable

Scope Ratings has affirmed the B+ issuer rating of listed Hungarian car seller AutoWallis, while changing the outlook on the...

Banking

Households Borrow Net HUF 90 bln in May

Households took out net HUF 90 billion of loans in May, monthly data released by the National Bank of Hungary...

Banking

Companies Withdraw Net HUF 208 bln From Bank Accounts in May

Non-financial companies made HUF 208 bln of net withdrawals from the accounts at local banks in May, monthly data released...

Debt

General Gov’t Deficit Over HUF 1 tln in Q1

According to preliminary data, the deficit of the general government sector in Q1 2024 was HUF 1.068 trillion, corresponding to...

Trade

EUR 1.75 bln Trade Surplus in April

Hungary had a EUR 1.75 billion trade surplus in April, widening from EUR 1.57 bln in the previous month, according...

Banking

OTP Foundation’s Educational Innovation Award Open Until July 15

The OTP Fáy Innovation Award for Education, with a total prize of HUF 20 million, will await applications until July...

MNB

MNB Increases Countercyclical Capital Buffer Rate to 0.5%

The National Bank of Hungary (MNB) announced late on Tuesday that it will maintain a 0.5pc Countercyclical Capital Buffer (CCyB)...

MNB

MNB Joins Capacity-building Alliance of Sustainable Investment

The National Bank of Hungary (MNB) has joined the Capacity-building Alliance of Sustainable Investment (Casi), the central bank and financial...

Banking

Gov’t Extends Retail Rate Freeze Till Year-end

The government is extending a rate freeze on retail credit until the end of 2024, National Economy Minister Márton Nagy...

MNB

Telco, Banking Sectors Drive Service Price Inflation in Spring

Higher prices in the banking and telecommunications sectors accounted for a big part of service price inflation early in the...

Ratings

Fitch Ratings Affirms Hungarian Eximbank’s BBB Rating

Fitch Ratings has affirmed Eximbank's long- and short-term issuer default rating (IDR) at 'BBB/F-2' with a negative outlook, according to...

MNB

Payment System Efficiency Continues to Improve – MNB

Progress has been made in most of the areas of Hungary's domestic electronic payments system, a wider range of customers...

MNB

Ratesetters Cut Base Rate to 7%

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

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...