Finance

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...

MNB

Policymakers Cut Central Bank Base Rate by 75 bp to 8.25%

The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 75...

MNB

MNB Signs Cooperation Agreement With NFRA

The National Bank of Hungary (MNB) has signed a cooperation agreement with China's National Financial Regulatory Administration (NFRA) on joint...

Banking

Raiffeisen Bank Zrt Profit Rises Over HUF 103 bln in 2023

The after-tax profit of Austrian-owned Raiffeisen Bank Zrt rose 43% to HUF 103.3 billion in 2023, an earnings report shows....

Banking

Eximbank Balance Sheet Climbs 70% 

The balance sheet of Magyar Eximbank climbed 70% last year, CEO Kornel Kisgergely said at the Exim Awards ceremony, according...

MNB

MNB Urges Steps to Improve Competitiveness 

The National Bank of Hungary (MNB) pointed to a decline in Hungary's competitiveness compared to other European Union member states...

Trade

Hungary to Press for Relaunch of EU-Malaysia FTA

Hungary will relaunch negotiations on a free trade agreement between the European Union and Malaysia when it takes the revolving...

Banking

Revolut Irresolute About Opening Subsidiary in Hungary

Revolut has introduced several new features for its Hungarian customers in recent weeks, prompting business daily Világgazdaság to ask whether...

Trade

Domestic Freight Transport Decreased 7% Last Year

The total performance of domestic freight transport decreased by more than 7% last year as a result of international political...

MNB

MNB Fines Cash4Car HUF 160 mln for Unlicensed Lending

The National Bank of Hungary (MNB) has fined the local and Czech businesses of Cash4Car HUF 160 million for unlicensed...

Banking

Value of Bank Card Payments Climbs 10% in Q4

The value of payments in Hungary made with locally-issued bank cards climbed 10% year-on-year to HUF 3.973 tln in the...

Banking

Banking Sector Forint Liquidity up in February

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

Debt

Hungary Current Account has EUR 213 mln Deficit in January

Hungary's current account had a EUR 213 million deficit in January, narrowing from a EUR 1.049 bln gap in the...

Banking

Rate Freeze on SME Credit Ending April 1

A rate freeze on SME credit will end on April 1, as lending rates are expected to fall under the...

Ratings

Scope Assigns MOL BBB- Issuer Rating

Scope Ratings on Thursday assigned Hungarian oil and gas company MOL a BBB- issuer rating with a positive outlook, according...

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...