Finance

MNB

Ratesetters Voted 7:2 for 100 bp Cut

Members of the Monetary Council of the National Bank of Hungary (MNB) voted 7:2 for a 100-basis-point rate cut at...

MNB

MNB Warns Draft Amendments Would Affect Independence

The National Bank of Hungary (MNB) said amendments to the Central Bank Act drafted by the Finance Ministry would affect...

MNB

MNB: Most Companies Blame GDP Contraction on Inflation

Domestic GDP decreased by 0.9%, the background of which was mainly the falling internal demand due to high inflation, according...

MNB

Ties Between PM, Central Bank Governor ‘Remain Close’

Ties between Prime Minister Viktor Orbán and National Bank of Hungary (MNB) governor György Matolcsy "remain close", the central bank...

Banking

K&H: Demand for Market Housing Loans Much Higher in January

The demand for market housing loans was much higher at K&H in January this year than a year earlier, the...

Debt

Gen Gov’t Deficit Reaches HUF 1.704 tln in February

Hungary's cash flow-based general government deficit reached HUF 1.704 tln at the end of February, the Finance Ministry said in...

Banking

OTP Earnings Climb in 2023

Consolidated fourth-quarter after-tax profit of OTP Bank, Hungary's biggest commercial lender, was muted, as acquisition and divestment costs weighed, but...

Ratings

Fitch Gives MVM Dollar Bond ‘BBB’ Rating

International credit rating agency Fitch Ratings gave MVM Zrt.'s planned dollar bond the same rating as the company, "BBB." It...

Banking

Banking Sector Profit More Than Doubles in 2023

After-tax profit of Hungarian banks rose 130% to HUF 1.929 trillion in 2023, state news wire MTI reports, citing data...

Banking

Erste Bank Hungary Profit Climbs to HUF 115 bln in 2023

After-tax profit of Austrian-owned Erste Bank Hungary reached HUF 115 billion in 2023, more than double the HUF 53 bln...

Ratings

JCR Affirms Hungary A- Rating With Stable Outlook

Japan Credit Rating Agency (JCR) affirmed Hungary's A- foreign currency long-term issuer rating, with a stable outlook, on Tuesday, according...

Debt

Varga Puts 2024 Budget Deficit at 4.5% of GDP

Finance Minister Mihály Varga said the government aimed to bring the general government deficit under the 3%-of-GDP Maastricht threshold by...

Trade

EUR 271 mln Trade Deficit in December

Hungary had a EUR 271 million trade deficit in December, the first negative balance in almost a year, according to...

Banking

Households Make HUF 164 bln of Net Withdrawals in January

Households made net withdrawals of HUF 164 billion from their accounts at Hungarian banks in January, news agency MTI reports,...

MNB

Budget Must Adapt to Economic Environment – Varga

The budget must adapt to the economic environment, while the economy determines fiscal performance, Finance Minister Mihály Varga said at...

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...

Banking

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...

Banking

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

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

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...

Banking

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...

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...

MNB

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...

Banking

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...

Banking

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...

Trade

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...

Ratings

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...

MNB

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...