Finance

MNB

Forint fairly stable on interbank market

The forint was trading at 300.50 to the euro late Friday on the interbank forex market, down from 299.79 late...

Banking

MNB: Government deficit in 2014 around 2.3-2.4% of GDP

In 2014, the deficit of the general government sector may have been around 2.3-2.4% of GDP, 0.1-0.2 percentage points lower...

MNB

OTP Bank Russia sells RUB 17 bln in bad loans

The Russian unit of Hungaryʼs OTP Bank has sold approximately RUB 17 bln of its bad loans to factors in...

Debt

ÁKK sells less securities than planned on weak demand

The Government Debt Management Agency (ÁKK) sold just HUF 30 bln of securities at auction on Thursday, well under the...

MNB

Pénzügykutató projects 2.4% GDP growth for 2015

Pénzügykutató expects Hungaryʼs GDP growth rate to fall to 2.4% this year as investments slow, the economic research company said...

Banking

Economy ministry exploring effects of VAT reduction

The Economics Ministry is looking into the potential fiscal and economic effects of a VAT rate reduction but reducing the...

MNB

RBI books €398 mln loss in Hungary as borrowers relief weighs

Austriaʼs Raiffeisen Bank International (RBI) booked a €398 mln loss at its Hungarian business last year, taking a hit on...

Banking

Number of Hungarians to receive tax refunds on the decline

The number of Hungarians who have received personal income tax refunds has been on the decline, reducing to almost half...

Debt

ÁKK exchanges HUF 13.5 bln of bonds at switch auction, less than planned

The Government Debt Management Agency (ÁKK) exchanged HUF 13.5 bln in bonds maturing in 2024 for ones that expire in...

MNB

Rogán: Beva should compensate investors for corporate bonds

Hungaryʼs Investor Protection Fund (Beva) should also offer compensation to investors for corporate bonds, Fidesz caucus leader Antal Rogán said...

Debt

ÁKK sells HUF 50 bln of three-month bills, as planned

The Government Debt Management Agency (ÁKK) sold HUF 50 bln of discount three-month T-bills at auction today, in line with...

MNB

Licensing intra-group financing activity

This article was written by Csaba Ember, Senior Associate at Gide Loyrette Nouel-dʼOrnano Iroda....

MNB

GKI projects slowing growth, gradual upgrades in 2015

Hungarian economic research institute GKI left its economic growth forecast for the country unchanged at 2% in 2015, a slowdown...

Ratings

S&P: Hungary rates just below investment grade

Standard & Poorʼs Ratings Services announced on Friday that it was increasing Hungaryʼs credit rating, from BB to BB+, which...

MNB

Forint eases on interbank market

The forint was trading at 304.81 to the euro late Friday on the interbank forex market, down from 303.50 late...

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...