Finance

MNB

EC puts Hungary 2016 GDP growth at 2.1%

The European Commission projected that Hungaryʼs economy will grow by 2.1% this year and 2.5% next year, as part of...

Banking

CEU Business School column: Hungary’s tax system misses the mark

When it comes to encouraging growth and improving income distribution, the country’s tax regime seems inadequate. ...

MNB

Hungarian banksʼ corporate loans drop in 2015

Banksʼ lending to Hungarian companies dropped last year, in contrast to 2014, when cheap credit available to small- and medium-size...

Debt

ÁKK: Demand moderate, yields rise at three-month bill auction

The Government Debt Management Agency (ÁKK) sold the originally planned HUF 40 billion of discount three-month T-bills on moderate subscription...

MNB

MNB Chief: Bankʼs SME lending could grow by 10% in a year

Hungarian bankʼs lending to small and medium-size enterprises (SMEs) could grow by 8-10% in a year, aided by the National...

Banking

Óbuda considers tax on ugly buildings

The local council of Óbuda, Budapest’s Third District, is discussing plans to introduce a tax on buildings that are considered...

MNB

MNB allots HUF 618 bln of new IRS linked to lending

The National Bank of Hungary (MNB) allotted HUF 618 billion of a new three-year interest rate swap (IRS) conditional on...

Ratings

ÁKK chief: Hungary to refinance maturing FX debt mainly with forint issues

Hungary will refinance its maturing FX debt mainly with forint issues, but will also issue FX debt if necessary, the...

Debt

ÁKK sells HUF 48 bln of securities at auction, as planned

The Government Debt Management Agency (ÁKK) sold a combined HUF 48 bln of government securities at auction today, as planned,...

MNB

Forint weaker on interbank market

The forint was trading at 3123.47 to the euro late Wednesday on the interbank forex market, down from final quotes...

Banking

Casinos required to pay more than HUF 7 bln in taxes in 2015

Hungarian casinos were due to pay a combined gambling tax of HUF 7.375 billion in 2015, reduced to HUF 3.086...

Banking

Editorial: New Yearʼs resolutions weʼd like to see

The following is the editorial from the Budapest Business Journalʼs January 15 biweekly edition....

MNB

Report: Liquidator taking Saxo Bank to court to reclaim Buda-Cash client assets

Penzügyi Stabilitasi és Felszámoló (PSFN), a non-profit liquidator owned by the National Bank of Hungary, has launched a court proceeding...

MNB

EC: Fiscal stress in Hungary limited, but some risks in medium term

Hungary is not likely to experience significant fiscal stress in the short-term, but there could be medium risks in the...

Debt

ÁKK exchanges HUF 19 bln of bonds at switch auction, less than planned

The Government Debt Management Agency (ÁKK) sold HUF 19 bln of bonds maturing in 2024 and 2025 for ones that...

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...