Finance

Debt

ÁKK cuts sale at three-month bill auction, yield rises

The Government Debt Management Agency (ÁKK) sold HUF 35 bln of discount three-month T-bills at auction on Tuesday, HUF 5...

MNB

MFB raises preferential credit cap for farmland purchases

The Hungarian Development Bank (MFB), acting on a government decision, will raise the cap of its preferential loan program for...

MNB

OTP Romania relieves clients of CHF 23 mln debt in conversion scheme

OTP Bank Romania has so far relieved 2,600 clients of a combined CHF 23 million in debt as part of...

Ratings

London analysts: Hungary IG upgrade this week ‘probably too early’ but not impossible

Hungaryʼs upgrade to investment grade by Moodyʼs this week would seem “a little early”, though there is “an outside chance”...

Debt

ÁKK sells HUF 22.5 bln of bonds at auction, less than planned

The Government Debt Management Agency (ÁKK) sold a combined HUF 22.5 bln of securities at auction on Thursday, under the...

Debt

ÁKK exchanges HUF 34.5 bln of longer maturities at switch auction, under plan

The Government Debt Management Agency (ÁKK) exchanged HUF 34.5 bln of bonds maturing in 2024 and 2025 for ones that...

MNB

MNB to give banks six-month extension to manage forint mortgages

Banks will have until April 1, 2017 to improve the requirement set by a June 2015 National Bank of Hungary...

Debt

ÁKK sells planned volume of three-month bills on moderate demand

The Government Debt Management Agency (ÁKK) sold the planned HUF 40 bln of discount three-month T-bills at auction on Tuesday...

MNB

MKB will establish mortgage bank

State-owned MKB Bank will establish its own mortgage bank together with Granit Bank as a minority owner, the application of...

Banking

Tax deadline for sole proprietorships this Thursday

Sole proprietorships operating in Hungary and individuals that are required to make VAT payments must complete form No. 1533 and...

MNB

K&H group has HUF 38.1 bln after-tax profit in 2015

Kereskedelmi és Hitelbank group (K&H), owned by KBC Bank of Belgium, had HUF 38.1 billion in after-tax profit in 2015,...

MNB

MNB posts HUF 95 bln profit in 2015

The National Bank of Hungary (MNB) today said it had posted a record HUF 95 billion in profit last year,...

Ratings

JCR improves Hungaryʼs outlook to positive

Tokyo-based Japan Credit Rating Agency (JCR) has improved the outlook of Hungaryʼs long-term issuer ratings from stable to positive, the...

MNB

UniCredit Bankʼs corporate lending stock climbs 7% in 2015

UniCredit Bank, Hungaryʼs second-largest commercial bank, saw its corporate lending stock rise 7% last year, Chairman-CEO Mihály Patai said in...

Debt

ÁKK sells HUF 65 bln of bonds at auction, HUF 15 bln over plan

The Government Debt Management Agency (ÁKK) sold HUF 65 bln of bonds at auction today, raising its original offer by...

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...