Finance

MNB

MNB reforecasts inflation down for 2014, up for ‘15

Shortly after announcing another 10 bp cut to its base rate to yet another record of 2.60%, the National Bank...

Debt

ÁKK’s USD bond issue five times oversubscribed

The $3 billion issue of five- and ten-year dollar bonds by Hungary on Tuesday was almost five times oversubscribed, the...

MNB

Dep. gov. reiterates need for MNB to reassess easing

National Bank of Hungary (MNB) rate-setters will have to “reassess” the continued easing and concomitant lowering of its base rate...

MNB

UniCredit reports 69% decrease in profit for 2013

The Hungarian unit of Italy-based UniCredit reported after-tax profit of HUF 6.45 billion for 2013, a whopping 69% year-on-year decrease...

MNB

Pleschinger: Hungary financially stable, risks remain

The forint’s weaker levels pose no threat to the Hungarian central bank’s inflation goal nor to financial stability but risks...

MNB

International reserves down €33.788 billion in February

Hungary’s international reserves stood at €33.788 billion at the end of February, dropping €324 million from a month earlier, preliminary...

MNB

Ukraine, weak forint put economy on edge of turmoil

From the Budapest Business Journal print editon: Hungary’s economy exceeded expectations with impressive growth in the fourth quarter. The result...

MNB

EC raises GDP growth projection to 2.1% for 2014, ‘15

The European Commission (EC) raised its projection for GDP growth in Hungary this year to 2.1% in a forecast released...

MNB

Nomura on Hungary: forex loan policy a mess

Representatives of international research firm Nomura visited Budapest earlier this month in meetings with officials from the National Economy Ministry,...

Banking

ECJ rules Hungary’s tax on retailers discriminatory

The European Court of Justice on Wednesday ruled that Hungary's sectoral tax on retailers is discriminatory, putting companies with owners...

Banking

Boosted tax intake proves to be no miracle cure

The government has introduced a series of steps to increase the treasury’s tax revenues that are making life more difficult...

Banking

Tax dodgers: always ahead of the game?

From the Budapest Business Journal print edition: Although their room for maneuvering shrinks, offshore tax dodgers still manage to keep...

Banking

OECD: Structural reform needed for Hungary’s full potential

The OECD urged Hungary to make further structural reforms to achieve full growth potential in an economic survey of the...

MNB

State to assume Budapest’s HUF 100 billion debt

Hungary’s central government is to take over HUF 100.7 billion in debt from the Budapest city council by February 28...

MNB

Just 316 join forex-loan cap scheme in November

An exchange rate cap scheme designed to assist borrowers with foreign currency-denominated loans attracted 316 new participants in November, just...

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...