Finance

Banking

CIB Group Closes 2023 with Record Performance

Last year was the most successful in CIB Bank’s history to date, boasting a record profit of HUF 63.9 billion...

Ratings

S&P Upgrades Serbia’s Outlook to Positive

S&P Global Ratings said it has upgraded its outlook on Serbia to positive from stable on improved fiscal and external...

Trade

Slovenia Trade Balance Swings to Deficit in February

Slovenia posted a trade deficit of EUR 990.5 million in February, compared to a surplus of EUR 230.2 million in...

MNB

MNB International Reserves Edge Lower in March

International reserves of the National Bank of Hungary (MNB) stood at EUR 46.373 bln at the end of March, down...

Ratings

Fitch Affirms K&H Bank BBB+ Rating

Fitch Ratings has affirmed K+H Bank's long-term issuer default rating at BBB+ with a negative outlook, the rating agency said...

Ratings

Fitch Affirms Erste Hungary’s BBB+ Rating

Fitch Ratings has affirmed Erste Bank Hungary's long-term issuer default rating at BBB+ with a negative outlook, the lender said...

Banking

R34DY: Connecting the Building Blocks for Core Banking Systems

The company’s name reminds you of a robot from Star Wars, and it has been pronounced in the wildest possible...

Banking

Smart FX With Gránit Bank: Anytime, Anywhere, via Mobile App

Vacation season will soon be upon us, and many people are already planning trips abroad. But logistics aren’t the only...

Banking

UniCredit Looking to Conquer Hungarian Investors With Onemarkets Fund

The Budapest Business Journal talks with Giacomo Volpi, deputy CEO at UniCredit Bank Hungary, and Réka Vörös, head of the...

Trade

Hungary Trade Surplus Grows in February

Hungary's surplus on external trade in goods reached about EUR 1.7 billion in February 2024, with the balance improving by...

MNB

Hungary Rolls out Instant Payment Option for Payment Requests

Hungarian consumers and businesses now have the option to use an instant payment system for electronic payment requests, the National...

MNB

CPI to Climb Temporarily on Costlier Service Prices, Base Effects

The Consumer Price Index, which has fallen into the central bank's 2-4% tolerance band for the past two months, will...

Banking

MBH Group After-tax Profit Doubles in 2023

After-tax profit of MBH Group, Hungary's second-biggest commercial lender rose 101% to HUF 183.2 bln in 2023, an earnings report...

MNB

MNB Keeps Countercyclical Capital Buffer Activation Schedule Unchanged

The Financial Stability Board of the National Bank of Hungary (MNB) has decided to leave the timing for the activation...

Debt

Hungary Account Deficit at EUR 561 mln in Q4

Hungary had a EUR 561 million current account deficit in Q4, state news wire MTI writes, citing quarterly data released...

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...