Finance

Ratings

Fitch revises MOLʼs outlook to stable; affirms ‘BBB-’ rating

Fitch Ratings has revised Hungarian oil and gas company MOLʼs outlook to stable from negative, while affirming its long-term issuer...

MNB

MNB: Banks undertake to raise SME lending by HUF 195 bln

Banks are in the process of raising their lending stock to small and medium-sized companies (SMEs) by HUF 195 billion...

Debt

ÁKK sells less-than-planned one-year bills, planned floaters at auction

The Government Debt Management Agency (ÁKK) sold a combined HUF 40 bln of twelve-months discount T-bills and five-year floaters at...

MNB

Takarékbank raises GDP growth forecast, cuts inflation projection

Hungaryʼs GDP growth could slow to 2.5% in 2016 but accelerate to 3.1% in 2017, Takarékbankʼs analysts said in their...

MNB

MNB to keep countercyclical capital buffer at zero to prop up lending

The National Bank of Hungary (MNB) will maintain the countercyclical capital buffer (CCB) rate at zero thereby supporting lending growth,...

MNB

Forecast: Hungary’s GDP growth to fall to 2.3%

Due to dropping investments, Hungary’s GDP growth could fall to 2.3% this year from last year’s 2.9%, research company Pénzügykutató...

MNB

MNB to charge same interest on banksʼ excess reserves as on O/N deposits

Banks will no longer be able to keep money in excess of their mandatory reserve obligation free of charge on...

Debt

ÁKK exchanges HUF 30 bln of bonds at switch auction, less than planned

The Government Debt Management Agency (ÁKK) sold HUF 30 bln of bonds maturing in 2024 and 2028 for ones that...

MNB

Deputy Governor: MNB to cut rate to a sustainable level

The National Bank of Hungary (MNB) will cut its base rate until it reaches a rate that is consistent with...

Banking

Varga: Government plans to expand e-till system

The Hungarian government is planning to expand the mandatory use of cash registers directly connected to the Hungarian Tax and...

MNB

MNB shifts top of interest rate corridor downward by 50 bps

The National Bank of Hungary today said its policy makers decided to shift the top of the overnight interest rate...

Debt

ÁKK sells HUF 46 bln of three-month bills at auction, over plan

The Government Debt Management Agency (ÁKK) sold HUF 46 bln of discount three-month T-bills at auction today, raising its original...

Ratings

Hungary expects two credit rating upgrades this year

The Hungarian government foresees at least two of the three big ratings agencies issuing upgrades by the end of this...

Banking

Hungary’s general government runs HUF 14.8 bln surplus at end-February

Hungaryʼs general government balance, excluding local councils, had a cashflow-based surplus of HUF 14.8 billion at the end of February,...

Ratings

S&P keeps Hungarian debt below investment grade

Standard & Poor’s is keeping Hungary’s debt ratings in junk category, just below investment grade, the credit assessment agency announced...

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...