Finance

Debt

ÁKK buys HUF 24.9 bln of bonds at reverse auction

The Government Debt Management Agency (ÁKK) bought HUF 24.9 bln of 2017/A bonds before maturity at a reverse auction today,...

MNB

MNB to raise FGS cap by HUF 100 bln

The Monetary Council of the National Bank of Hungary (MNB) yesterday decided to raise the limit of the ongoing third...

Banking

Parliament approves new taxation system for 2017

The Hungarian Parliament ratified a package of new taxes today which will lower the VAT rate on milk, eggs and...

Banking

General government deficit reaches HUF 13.2 bln in May, 2% of full-year target

Hungaryʼs cashflow-based government deficit, excluding local councils, reached HUF 13.2 billion at the end of May, a first reading of...

Debt

ÁKK sells planned HUF 40 bln three-month bills, yields slightly up

Hungary’s Government Debt Management Centre (ÁKK) sold HUF 40 bln of discount three-month T-bills at auction today, in line with...

Banking

MNB: Government plans considerable easing in 2017 budget bill

The 2.4% ESA deficit targeted by the government in the 2017 budget bill amounts to considerable easing compared to the...

Banking

Ministry: Brussels ‘practically destroyed’ Hungary’s voucher system

After submitting a bill to Parliament yesterday that would convert a portion of the national voucher system into cash, the...

Debt

ÁKK cuts offer at twelve-month T-bill auction

Hungary’s Government Debt Management Agency (ÁKK) sold HUF 24.0 bln of discount twelve-month T- bills at auction today, cutting its...

Banking

Baker & McKenzie receives Hungarian Tax Firm of the Year award

Baker & McKenzie was named 2016 European Tax Firm of the Year and 2016 Hungary Tax Firm of the Year...

Debt

ÁKK exchanges HUF 18 bln of bonds at switch auction, below plan

The Government Debt Management Agency (ÁKK) sold HUF 18 bln of floating-rate bonds maturing in 2019 for floating-rate ones that...

Ratings

Fitch Ratings upgrades Hungarian banks

Fitch Ratings today upgraded the credit ratings of Hungarian banks in connection with the recently announced upgrade of the countryʼs...

Debt

Demand large at three-month bill auction, sale over plan

Hungaryʼs Government Debt Management Center (ÁKK) sold HUF 50 billion of discount three-month T-bills at an auction today, HUF 10...

MNB

MNB: Transactions reduce credit institutionsʼ household loans by HUF 71 bln in Q1

In 2016 Q1 credit institutionsʼ outstanding household loans decreased by HUF 71 billion as a result of transactions, while write-offs...

MNB

MNB: Lending to SMEs grows, but total corporate lending declines in Q1

Credit institutionsʼ lending to small and medium-sized enterprises increased by 3.4% annually in the first quarter of the year, but...

MNB

MNB to offer HUF 46 bln bridging loan to compensate clients of failed brokerages

The National Bank of Hungary (MNB) said it will grant a HUF 46 billion bridging loan to a special fund...

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...