Finance

Ratings

Fitch downgrades K&H and Erste Bank Hungary

International financial credit rating service Fitch Ratings yesterday said it downgraded the long-term issuer default rating of both Hungarian institutions...

Banking

Gov’t ready to stand up for ad tax in Brussels

The government is ready to stand up for Hungary's tax on advertisements in Brussels if it comes to it, the...

Debt

ÁKK scales back net issues slightly, raises buybacks in Q4

Hungary's Government Debt Management Agency (ÁKK) slightly scaled back net forint securities issues, raising net bond issues and increasing bond...

Debt

ÁKK sells more than planned 3- and 10-year bonds at auction

The Government Debt Management Agency (ÁKK) raised its sale of three- and ten-year bonds and sold the originally offered amount...

MNB

Forint further down in global escape from risky assets

The forint was trading at 307.04 to the euro late Wednesday on the interbank forex market, down from 306.14 late...

Debt

ÁKK buys back HUF 25.5 bln of bonds at reverse auction

The Government Debt Management Agency (ÁKK) bought back HUF 25.5 bln of three bonds before maturity at a reverse auction...

Debt

ÁKK sells HUF 40 bln of three-month bills, as planned

The Government Debt Management Agency (ÁKK) sold HUF 40 bln of discount three-month T-bills at an auction on Tuesday, in...

MNB

New contracts in exchange rate cap scheme drop sharply in August

The number of new contracts signed under an exchange rate cap scheme, that aims to make repayments for retail borrowers...

MNB

MNB allots banks nearly €980 mln for FX payments

The National Bank of Hungary (MNB) on Monday alloted banks a combined €980 mln of FX liquidity in the first...

MNB

Forint slightly up on interbank market

The forint was trading at 305.61 to the euro late Monday on the interbank forex market, slightly up from 306.02...

Ratings

Moody’s downgrades OTP Bank Russia

Moody's Investors Service announced today that it downgraded the long-term foreign and local-currency deposit ratings of OTP Bank Russia from...

Debt

12-month T-bills move slowly; floaters sell well

The Government Debt Management Centre (ÁKK) cut its offer of discount twelve-month T-bills but sold more floating-rate bonds than planned...

Debt

ÁKK cuts offer for twelve-month bills, raises for floaters

The Government Debt Management Centre cut its offer of discount twelve-month T-bills but sold more than planned floating-rate bonds at...

Banking

Leak covers preliminary info on 2015 budget

A week ahead of the submission of the 2015 budget to the Fiscal Council, portfolio.hu summarized what has been leaked...

MNB

MNB fines Kancellár Globális Piacok for brokering without registration

The National Bank of Hungary (MNB) on Wednesday said it had fined Kancellár Globális Piacok HUF 60 mln for brokering...

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...