Finance

Debt

ÁKK buys HUF 21.2 bln of bonds at reverse auction

The Government Debt Management Agency (ÁKK) bought a combined HUF 21.2 bln of bonds before maturity at a reverse auction...

Debt

ÁKK sells HUF 40 bln of three-month bills at auction, as planned

The Government Debt Management Agency (ÁKK) sold HUF 40 bln of discount three-month T-bills at auction today, in line with...

Banking

Government expects 3% GDP growth in 2019

The Hungarian government expects GDP to grow by 3% in 2019, according to a medium-term outlook supplementing the 2016 budget...

Ratings

Fitch affirms Hungaryʼs junk rating, raises outlook to positive

Fitch Ratings affirmed Hungaryʼs "BB plus" sovereign credit rating, one notch below investment grade, in a scheduled review Friday evening....

Banking

Bill would reduce top rate for ad tax to 5.3%

Hungaryʼs government submitted a bill to Parliament on Friday that would apply a 5.3% rate for the advertising tax on...

Banking

Editorial: Real tax overhaul will have to wait – again

The following is the Editorial column from the May 22-June 4 print edition of the Budapest Business Journal....

MNB

BUX further down, OTP weighs

The Budapest Stock Exchangeʼs main BUX index finished down 0.21% at 22,185.55 Thursday, after sliding 0.46% Wednesday. It is up...

MNB

Hungarian banks unanimously commit to boosting lending activity

The Hungarian Banking Association has compiled and presented to the National Bank of Hungary (MNB) local banksʼ commitment to boosting...

Debt

ÁKK sells HUF 52 bln of securities at auction, slightly over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 52 bln of securities at auction today, slightly more than...

MNB

MNB fines three financial institutions HUF 7.5 mln

The National Bank of Hungary (MNB) fined MKB Bank HUF 4 mln, Aegon Magyarország Hitel HUF 1 mln and UCB...

Banking

Bill would amend state debt threshold, could eliminate ad agencies

Hungary’s National Economy Minister Mihály Varga yesterday submitted a bill to Parliament that would amend a rule on a nominal...

MNB

Association: 82% of FX borrowers pay less after settlement

Data from banks show that repayments of 82% of FX borrowers have fallen because of the settlement of compensation due...

MNB

MNB in talks with banking association on conversion of FX personal, car loans

The National Bank of Hungary is in talks with the Hungarian Banking Association on converting foreign currency-denominated personal and car...

MNB

Forint eases on interbank market

The forint was trading at 307.05 to the euro late Wednesday on the interbank forex market, down from 305.85 late...

Debt

ÁKK exchanges HUF 25 bln of bonds at switch auction, as planned

The Government Debt Management Agency (ÁKK) exchanged HUF 25 bln of bonds maturing in 2024 for ones that expire in...

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...