Finance

Banking

OTP Redeems EUR 400 mln of Green Securities

OTP Bank, Hungary's biggest commercial lender, on Wednesday said it is exercising its optional rights and redeeming green senior preferred...

Banking

Value of Bank Card Payments Climbs 8% in Q1

The value of payments in Hungary made with locally-issued bank cards climbed 8% year-on-year to HUF 3.719 tln in the...

Banking

Lender Liquidity Narrows in May

Forint liquidity of the domestic banking sector decreased in May, indicated by a decline in lenders' current account deposits that...

Ratings

Fitch Affirms Hungary ‘BBB’ Rating, Negative Outlook

Fitch Ratings affirmed Hungary's 'BBB' sovereign rating with a negative outlook at a scheduled review on Friday, according to a...

Banking

Green Preferential Capital Requirement Program Stock at HUF 1.022 tln

Local lenders' stock of credit in a preferential capital requirement scheme to support green lending reached HUF 1.022 tln at...

Ratings

Scope Ratings Completes Monitoring Review for Hungary

Scope Ratings completed a biannual monitoring review for Hungary on Friday, according to a report by state news wire MTI....

MNB

MNB Presents Biodiversity Loss Project Results at Conference

The National Bank of Hungary (MNB) presented the results of a nearly two-year long, European Union-funded project to assess financial...

MNB

MNB International Reserves Climb EUR 839 mln in May

International reserves of the National Bank of Hungary (MNB) stood at EUR 47.735 bln at the end of May, up...

Banking

Households Withdrawals Match Deposits in April

Households withdrew as much as they deposited in their accounts at Hungarian banks in April, according to data released by...

MNB

Rate-setters Point to Need for Maintaining Tight Monetary Policy

Members of the Monetary Council of the National Bank of Hungary (MNB) were in agreement on the need to keep...

Banking

Banking Sector Profit Climbs 37% in Q1

First-quarter after-tax profit of Hungarian banks rose 37% year-on-year to HUF 441 billion, data released by the National Bank of...

Trade

Hungary Trade Surplus Grows in April

Hungary's external trade in goods surplus reached EUR 1.8 billion in April 2024, with the growth of exports outpacing that...

Trade

External Trade in Services Surplus at EUR 2.4 bln in Q1

The surplus of Hungary's external trade in services in the first quarter was EUR 2.4 billion, according to data by...

MNB

MNB Books HUF 1.763 tln Loss in 2023

The National Bank of Hungary had a HUF 1.763 tln loss in 2023, state news wire MTI writes, citing an...

Ratings

Moody’s Completes Periodic Review of Hungary Ratings 

Moody's Ratings on Friday said it had completed a periodic review of the ratings of Hungary, according to a report...

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...