Finance

MNB

Forint firm vs euro and franc, down vs dollar on interbank market

The forint was trading at 305.71 to the euro late Monday on the interbank forex market, a hair down from...

MNB

NPL ratio reaches 19.3% of retail portfolio

The ratio of non-performing loans (NPL) among gross retail loans was 19.3% at the end of last year, down slightly...

MNB

EC proposes termination of loan program follow-up visits

The European Commission (EC) proposed yesterday to wind up follow-up visits in connection with the loan program between the European...

Debt

ÁKK: Retail government securities stock rises despite large bond expiry

The stock of government securities designed for the general public rose HUF 7 bln in January despite a big, HUF...

Banking

Tax auditors to continue careful observation

The auditors of Hungary's Tax and Customs Authority (NAV) will continue to pay special attention to internet commerce, sole proprietors...

Debt

ÁKK sells HUF 64 bln of bonds, HUF 9 bln more than planned

The Government Debt Management Agency (ÁKK) sold a combined HUF 64 bln of bonds at auction on Thursday, raising its...

MNB

MNB, banking association discuss maturity mismatch in joint working group

The National Bank of Hungary (MNB) and the Hungarian Banking Association have set up a working group to discuss ways...

MNB

Forint retreats further on interbank market

The forint was trading at 306.64 to the euro late Wednesday on the interbank forex market, up from 307.83 late...

MNB

BUX up again on Greece, Putin

The Budapest Stock Exchange's main BUX index finished up 0.94% at 18,082.27 Wednesday, about a point short of a more...

MNB

MNB launches Funding for Growth Scheme spin-off

The National Bank of Hungary (MNB) today announced a spin-off of its Funding for Growth Scheme (FGS), with HUF 500...

MNB

Forint retreats further on interbank market

The forint was trading at 307.88 to the euro late Tuesday on the interbank forex market, down from 307.04 late...

Debt

ÁKK plans net issues of bonds, 3-month discount T-bills in March-May

Hungary's Government Debt Management Agency (ÁKK) plans net forint securities issues of HUF 194 bln according to its March-May issue...

Debt

ÁKK sells HUF 50 bln of three-month T-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

Central bank management, Hungarian bank heads meet

The management of the National Bank of Hungary (MNB) and the heads of Hungary’s biggest banks met today to hold...

Banking

Editorial: Stop using taxes as a weapon

The following editorial is from the February 13-February 26 print edition of the Budapest Business Journal....

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...