Finance

MNB

Varga: No decision on FX conversion yet

Hungary’s Economy Minister Mihály Varga said late yesterday that no decision has been made on the exchange rate at which...

MNB

Demand remains low at MNB’s tender for FX loan refunds

The National Bank of Hungary (MNB) allotted banks only €13 mln of FX liquidity on Monday in the fourth round...

Banking

Economy Ministry withdraws internet tax, for now

The Economy Ministry said Friday afternoon that it had initiated the withdrawal of the proposed internet tax with the chairman...

MNB

MNB: Retail lending stock falls on firmer forint

Hungarian banks retail lending stock fell in September as the stronger forint reduced the value of foreign currency-denominated loans, a...

Banking

Orbán delays internet tax, plans public input

Prime Minister Viktor Orbán said today in his regular fortnightly radio interview that the proposed internet tax “cannot be introduced...

MNB

Forint up on auction results

The forint was trading at 308.31 to the euro late Thursday on the interbank forex market, up from 309.53 late...

Banking

Report: Nine tax increases expected in 2015

While the final vote on the tax package in Parliament is set for November 18, a portfolio.hu report calculates that...

Debt

ÁKK sells more than planned 5- and 15-year bonds at auction

Unlike the recent short-term auctions, demand was strong at the Government Debt Management Agency's (ÁKK) bond auction on Thursday. ÁKK...

MNB

Forint down after bond buy-back

The forint was trading at 309.32 to the euro late Wednesday on the interbank forex market, down from 308.91 late...

Debt

Demand for early buyback high, yields up at reverse auction

The Government Debt Management Agency (ÁKK) bought back HUF 72.0 bln of the HUF 85.7 bln bids it received for...

Banking

Tax authority rejects corruption charges

The National Tax and Customs Administration of Hungary (NAV) rejected corruption allegations that recently surfaced against its officials, in a...

MNB

MNB to extend Funding for Growth Scheme until end-2015

The National Bank of Hungary's (MNB) Monetary Council decided on Tuesday to extend the Funding for Growth Scheme until the...

Banking

Gov’t not to back away from internet tax

Fidesz MP Szilárd Németh, who is responsible for utility fee cuts, said today on Hungarian commercial television channel ATV that...

Banking

EC: Internet tax ‘bad direction’

Hungary is behind the EU average concerning digital penetration and levying a tax on internet use would point to "a...

Debt

Reduced offer sold at rising yield at three-month bill auction

The Government Debt Management Agency (ÁKK) sold the announced HUF 30 bln of three-month discount T-bills at auction on Tuesday....

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...