Finance

MNB

Varga: Gov’t Respects MNB’s Independence

Minister of Finance Mihály Varga acknowledged that his ministry, in consultation with the European Central Bank, was weighing the possibility...

Banking

Erste Group Earnings in Hungary Double in 2023

Austria's Erste Group booked net income of EUR 265 million at its banking business in Hungary last year, up 112%,...

Debt

ÁKK Exchanges HUF 20 bln of Bonds at Wednesday Switch Auction

The Government Debt Management Agency (ÁKK) exchanged HUF 20 billion of securities expiring in 2030 and 2033 for bonds maturing...

Banking

Personal Loans up Dramatically in 2023

The number of Hungarians taking out personal loans rose dramatically last year, according to data from the National Bank of...

MNB

Policymakers Cut Central Bank Base Rate by 100 bp to 9%

The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 100...

Banking

MBH Bank Introduces MREL-eligible Bonds on BSE

MBH Bank introduced its first international, MREL-eligible bonds to the debt securities section of the Budapest Stock Exchange, so they...

Banking

Hungary Leasing Market Grows Close to 6% in 2023

New lease contract value rose 5.5% to HUF 909.5 billion in Hungary last year, the head of the Hungarian Leasing...

Debt

Q4 State Debt Ratio at 73.5%

Hungary's state debt relative to GDP reached 73.5% at the end of the fourth quarter, according to preliminary data released...

Banking

Corvinus University, OTP Launch Joint Mentoring Program

On February 16, Corvinus University of Budapest and OTP Bank launched a joint mentoring program with nine mentor-mentee pairs. Thanks...

Banking

Gov’t to Make HUF 130 bln of 0% SME Credit Available From Q2

The government will make HUF 130 billion in 0% credit available to SMEs to boost competitiveness from the second quarter,...

Banking

Banking Sector Forint Liquidity up in January

Forint liquidity of the domestic banking sector rose in January, indicated by an increase in the average stock of central...

Debt

Hungary Current Account Deficit at EUR 1.049 bln in December

Hungary's current account had a EUR 1.049 billion deficit in December, after months of surpluses, news wire MTI reports, citing...

Banking

K&H Bank Earnings Reach HUF 108 bln in 2023

The after-tax profit of K&H Bank, the local unit of Belgium's KBC, rose 60% to HUF 108 billion in 2023,...

Trade

Slovakia Trade Deficit Narrows Sharply

Slovakia's trade deficit shrank to EUR 258 million in December 2023, from EUR 1,326.4 million in the same month a...

Banking

OTP Agrees to Sell Romanian Business for EUR 347.5 mln

OTP Bank, Hungary's biggest commercial lender, on Friday announced the conclusion of an agreement to sell OTP Bank Romania to...

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...