Finance

MNB

Central Bank closes in the black for 2013

The National Bank of Hungary (MNB) finished 2013 in the black, according to preliminary data, the central bank reported yesterday....

MNB

MNB: Government debt at 80.2% of GDP

According to figures released by the National Bank of Hungary (MNB) today, the central government’s consolidated gross debt was at...

MNB

Households repaying loans, borrowing stock still rising

Hungarian households repaid more foreign currency-based loans to domestic banks than they borrowed in forints in November, but their borrowing...

MNB

Report: >25% of Hungarian debt held by European banks

As of July 1, some 25.3% of Hungary’s €18.489 billion debt was held by 33 banks based outside the country,...

MNB

Parliament approves 2014 budget bill, more

Most important on the agenda in Parliament yesterday was the central budget bill for 2014 which as expected passed on...

MNB

MNB: Inflation 1.7% in 2013, 1.3% in ‘14

The National Bank of Hungary (MNB) lowered its inflation forecasts for 2013 and 2014, figures from its latest quarterly inflation...

Banking

Tax policy 2014: No dramatic changes

From the Budapest Business Journal print edition: The 2014 package aims to support families and businesses, fight against the black...

Ratings

Fitch Ratings keeps Hungary at BB+ long term

Fitch Ratings on Wednesday affirmed Hungary’s long-term foreign currency rating at “BB+” with stable outlook, and its local currency rating...

MNB

EC: Positive changes in Hungarian macroeconomy, risks remain

The European Commission on Wednesday welcomed positive macroeconomic changes in Hungary and said economic growth could accelerate, but it warned...

MNB

Court rules against bank in forex loan case

A single case involving forex-based loans has been ruled upon and with some 2,500 more lawsuits awaiting judgment, a precedent...

MNB

Just 209 join exchange rate cap scheme in October

An exchange rate cap scheme designed to assist borrowers with foreign currency-denominated loans attracted 209 new participants in October, just...

Banking

Fidesz: Tax fraud must be punished

Tax fraud must not go unpunished but it is up to the public prosecutor’s office to clarify whether the statements...

Banking

PwC: “Fewer big changes” in 2014 tax law

PricewaterhouseCooper Hungary has released some six pages worth of analysis on the tax package for 2014, legislation for which was...

MNB

Bankmonitor: Hungary home loans more expensive than CE’s

Interest rates and monthly repayment installments on home loans are substantially higher in Hungary than in Germany, Austria or Slovakia,...

MNB

RBI reports €81 million loss in Hungary through Q3

Yesterday’s release of a Q3 earnings report for Raiffeisen Bank International (RBI) showed that the financial institution has taken an...

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...