Finance

Banking

EC: Hungary canʼt implement supermarket, tobacco taxes

Hungary’s proposed supermarket oversight fee and tobacco tax, both based on a progressive rate tied to turnover, are in breach...

MNB

BSE share turnover reaches HUF 205 bln in June

Share turnover on the Budapest Stock Exchange (BSE) reached HUF 205 billion in June, up from HUF 177 bln in...

MNB

Erste Mortgage Bank cleared for operation

Erste Mortgage Bank was awarded an operating licence by the National Bank of Hungary (MNB) on Thursday, parent Erste Bank...

Ratings

Moodyʼs could announce upgrade for Hungary on Friday

Moody’s Investors Service will announce Friday evening whether it has chosen to improve Hungary’s rating from “junk grade” to “investment...

MNB

Household savings decreases to 6.1% of GDP in Q1

The rolling four-quarter net household savings ratio of Hungary decreased to 6.1% of GDP in Q1, said the National Bank...

Debt

ÁKK sells HUF 30 bln of 12-month bills, as planned

Hungaryʼs Government Debt Management Agency (ÁKK) sold HUF 30 bln of discount 12-month T-bills at auction today, in line with...

Ratings

Moodyʼs revisits banksʼ ratings and outlooks; upgrades possible

Ratings agency Moodyʼs Investors Service yesterday took rating actions on five Hungarian banking groups, prompted by the rating agencyʼs change...

MNB

Hungaryʼs state debt reaches 77.2% of GDP in March

Hungaryʼs state debt, calculated according to Maastricht rules, stood at 77.2% of GDP at the end of March, data released...

Debt

ÁKK sells HUF 5.5 bln of floating-rate bonds at switch auction, below plan

The Government Debt Management Agency (ÁKK) sold HUF 5.5 bln of floating-rate bonds maturing in 2019 for fixed-rate bonds that...

Ratings

Moody’s upgrades Hungary’s banking system outlook to positive

Ratings agency Moody’s Investors Service upgraded the outlook of Hungary’s banking system to positive, the rating agency said today in...

Debt

ÁKK sells HUF 60 bln of three-month bills, more than planned

Hungaryʼs Government Debt Management Agency (ÁKK) sold HUF 40 bln of discount three-month T-bills at auction on today, raising its...

MNB

MNB to keep 0% countercyclical capital buffer rate

The National Bank of Hungary (MNB) determined that it will keep the existing level of a 0% countercyclical capital buffer...

MNB

MNB puts 2016 deficit at 1.6% of GDP, if reserves not spent

The National Bank of Hungary (MNB) projects Hungaryʼs government deficit will reach 1.6% of GDP this year, if fiscal reserves...

MNB

Commerzbank: MNB could cut base rate further by end-2017

Although the National Bank of Hungary (MNB) might not cut its base rate this year, the central bank could continue...

Debt

ÁKK sells HUF 33 bln of bonds at auction, HUF 8 bln over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 33 bln of bonds at auction today, raising its original...

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...