Finance

Banking

MNB Recommends OTP Takes Precautionary Measures on Russian Exposure

The National Bank of Hungary (MNB) has made recommendations in an executive letter to OTP Bank on "precautionary measures" in...

MNB

MNB Extends Green Capital Requirement Discount Program

The National Bank of Hungary (MNB) has extended the Green Capital Requirement discount program, thanks to which the banks provided...

Debt

General Gov’t Deficit at HUF 2.6 tln

Hungary's cash flow-based general government deficit reached HUF 2.597 trillion at the end of April, as the Ministry of Finance...

Banking

25% of Banks Sense Pick-up in Credit Demand

A quarter of the banks sensed a pick-up in demand for consumer credit in the past six months, and looking...

MNB

Central Bank Base Rate by 50 bp to 7.25%

The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 50...

Banking

EBRD Provides Portfolio Risk-sharing Facility to OTP Leasing in Ukraine

The European Bank for Reconstruction and Development (EBRD) is extending an unfunded portfolio risk-sharing facility to OTP Leasing in Ukraine...

Debt

ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan

The Government Debt Management Agency (ÁKK) sold HUF 82.5 billion of bonds at auction on Thursday, more than double the...

MNB

MNB: Improved Macro Fundamentals Support Pickup on Home Market

Improving macroeconomic fundamentals have supported a pickup in activity on Hungary's home market and caused price rises to accelerate, the...

Banking

Watchdog Fines OTP Bank for Regulatory Shortfalls

The National Bank of Hungary (MNB) has fined OTP Bank HUF 102 million for failing to fully comply with regulations...

Banking

Lender Liquidity Narrows in April

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

Banking

Gránit Bank Balance Sheet Close to HUF 1.4 tln

Total assets of Gránit Bank were close to HUF 1.4 tln at the end of April, the lender said on...

Banking

OTP Q1 Profit Reaches HUF 240 bln

Consolidated adjusted first-quarter after-tax profit of OTP Bank, Hungary's biggest commercial lender, rose 126pc year-on-year to HUF 240 billion, an...

Debt

HUF 40.5 bln in Securities Exchanged

The Government Debt Management Agency (ÁKK) exchanged HUF 40.5 billion of securities expiring in 2030, 2032 and 2034 for bonds...

MNB

Achieving Deficit Targets ‘Crucial’ – Rate-setters

Members of the Monetary Council of the National Bank of Hungary (MNB) agreed that meeting deficit targets was a key...

Banking

Erste Bank Hungary Q1 Earnings Close to HUF 29 bln

After-tax profit of Austrian-owned Erste Bank Hungary was close to HUF 29 billion in the first quarter, climbing from HUF...

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...