Finance

MNB

MNB International Reserves Climb EUR 523 mln in April

International reserves of the National Bank of Hungary (MNB) stood at EUR 46.896 bln at the end of April, up...

Banking

EBRD Guarantees Ukraine’s JSC OTP Bank to Enable Lending

The European Bank for Reconstruction and Development announced that it is extending an unfunded portfolio risk-sharing facility to Ukraine’s JSC...

Trade

EUR 1.691 bln Trade Surplus an All-time High

Hungary had a EUR 1.691 billion trade surplus in February, widening from EUR 583 million in January, according to a...

Banking

Households Make Net Deposits of HUF 97 bln at Banks in March

Households made net deposits of HUF 97 billion on their accounts at Hungarian banks in March, well under the HUF...

Ratings

S&P Affirms Hungary’s BBB- Rating, Stable Outlook

S&P Global Ratings affirmed Hungary's BBB- sovereign rating with a stable outlook at a scheduled review on Friday, according to...

Banking

Hungarian Banks: HUF 50,000 Stolen Every Minute in 2023 Scam Surge

The National Bank of Hungary (MNB) has pointed to a surge in financial scams in 2023, with an increasing share...

Banking

OTP Makes Offer for Bank in EU – CEO

OTP Bank made an offer on Thursday to acquire another bank in a European Union member state, chairman-CEO Sándor Csányi...

MNB

MNB Business Confidence Index Slips in March

The business confidence index of the National Bank of Hungary (MNB) fell to -8 points in March from 0 points...

Banking

Lenders’ Home Loan Outlays at HUF 344 bln in H2 2023

Hungarian lenders' outlays of home loans reached HUF 344 billion in the second half of 2023 after falling to HUF...

MNB

Policymakers Cut Central Bank Base Rate by 50 bp to 7.75%

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

Ratings

Moody’s Affirms Budapest’s ‘Baa3’ Rating

Moody's Ratings has affirmed the "Baa3" local and foreign currency long-term issuer ratings of the city of Budapest with a...

MNB

MNB Gauges Interest in Operating on Hungary Crypto-assets Market

The National Bank of Hungary (MNB) will conduct a survey to determine the degree of interest among Hungarian companies in...

MNB

Watchdog Fines UniCredit Bank Hungary for Regulatory Shortfalls

The National Bank of Hungary (MNB) has fined UniCredit Bank Hungary HUF 28 million for failing to comply fully with...

Debt

ÁKK Sells HUF 50 bln of Bonds at Auction, Over Plan

The Government Debt Management Agency (ÁKK) sold HUF 50 billion of bonds at auction on Thursday, HUF 20 bln more...

Banking

Lender Liquidity Increases Further

Forint liquidity of the domestic banking sector rose in March, indicated by an increase in average stock of central bank...

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...