Finance

MNB

MNB: Lending dynamics in the SME segment improve in Q3 2015

In the third quarter of 2015, the outstanding borrowing of the SME sector increased by HUF 74 billion, and the...

MNB

Forint down in euro, up in dollar after ECB

The forint was trading at 312.36 to the euro late Thursday on the interbank forex market, down from final quotes...

MNB

MNB fines Biztonság-Trade HUF 500 mln for unlicensed activity

The National Bank of Hungary (MNB) today said it had fined Biztonság-Trade HUF 500 mln for providing unlicensed financial services...

Debt

Hungarian state development bank issues EUR 300 mln six-year bond

Hungaryʼs 100% state-owned development bank MFB will issue €300 million six-year bonds with settlement on December 8, MFB said yesterday, according to...

MNB

MNB: Two-thirds of clients to see lower instalments with car loan conversion

The monthly installments of about two-thirds of FX car and personal loan clients will drop with the conversion of their...

MNB

BUX corrects down from peak, Richter hit by profit taking

The Budapest Stock Exchangeʼs main BUX index finished down 0.69% at 23,681.22 Wednesday after gathering 0.33% on Tuesday. It is...

MNB

Banks disburse HUF 800.4 bln in loans in phase II of FGS

Net of repayments, banks disbursed HUF 800.4 billion in loans as of November 27 to small- and medium-size enterprises (SMEs)...

Debt

ÁKK exchanges HUF 11.5 bln of bonds at switch auction, less than planned

The Government Debt Management Agency (ÁKK) sold HUF 11.5 billion of bonds maturing in 2024 for ones that expire in...

Debt

ÁKK cuts sale of three-month bills, yields drop

The Government Debt Management Agency (ÁKK) sold HUF 9 bln of discount three-month T-bills at auction today, cutting its offer...

Ratings

Analysts: Hungary to return to investment grade in 2016

Hungary is set to regain investment grade status next year, and the central bank is likely to embark on a...

MNB

MNB clears Erste mortgage bank

The National Bank of Hungary (MNB) has cleared the establishment of a mortgage bank by Erste Bank Hungary, according to...

MNB

KPMG: Lenders cautiously optimistic about corporate lending

Consultancy KPMGʼs gauge of sentiment on the corporate lending market has risen to 2.73 points this year from 2.5 in...

Ratings

Fitch: Recovery of Hungarian banks underway

The operating environment for banks in Hungary has improved, due to positive developments in the economy and the governmentʼs intention...

MNB

Hungarian banks achieve HUF 163 bln pre-tax profit in Q1-Q3

Hungarian credit institutions had a combined pre-tax profit of HUF 163.1 billion in the first three quarters of 2015 compared...

MNB

Reuters: MNB considers cutting GDP growth

The National Bank of Hungary (MNB) is expected to cut its economic growth outlook sharply in December, and if it...

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...