Finance

MNB

MNB could change Funding For Growth conditions

The Monetary Council of the National Bank of Hungary (MNB) will analyze the effect on the room for maneuver of...

MNB

WSJ analysts: MNB key rate to be 3.60%

The workday after Reuters reported its results of a poll taken among analysts regarding changes to the key rate by...

MNB

Government retreats from war on public debt

The government is slackening what has long been one of its core principles of constantly paying off debts seeing it...

MNB

Dollar bond issue in mid-October?

In an interview with news outlet Magyar Hírlap yesterday, Government Debt Management Agency (ÁKK) deputy director László András Borbély stated...

Banking

UniCredit to cut costs in Hungary

The Hungarian unit of Italy-based UniCredit will close some branches to reduce costs after the government imposed a tax on...

MNB

Government files with SEC, seeks to move $5 billion in debt

The US Securities and Exchange Commission (SEC) has announced that the government of Hungary has filed documentation that will allow...

MNB

MVM to borrow €347 million to finance E.ON purchase

An extraordinary general meeting of 99% state-owned Hungarian energy group MVM on Friday unanimously approved a proposal for the company...

Banking

Highest declared 2012 personal income in Hungary falls 20%

The highest declared 2012 personal income in Hungary was HUF 760 million (or €2.63 million at the average exchange forint-euro...

MNB

MNB extends, tops up Funding for Growth scheme

The National Bank of Hungary (MNB) is extending its Funding for Growth Scheme until the end of next year and...

MNB

International reserves fall in August

Hungary’s international reserves stood at €30.55 billion at the end of August, falling €3.18 billion from €33.73 billion a month...

MNB

Final charge against foreign currency loans

The government remains ardent in its crusade against foreign currency mortgages and is preparing to launch another wave of bailouts....

Banking

ECJ: Hungarian retail tax may violate directive

Two days after European Commissioner for Transport Siim Kallas described Hungary’s just-introduced toll system for trucks and tractor-trailers as “not...

MNB

PwC on Austria banks: Hungary, Romania worst performers

Multinational professional services firm PricewaterhouseCoopers (PwC) has released a new report on Austria-based asset quality, not surprisingly listing Hungarian and...

MNB

Bank execs: “Funding For Growth” too brief, ineffective

At a Joint Venture Association conference yesterday, OTP Bank Deputy CEO László Wolf suggested that Hungarian SMEs tend to prefer...

MNB

Government weighing proposals by banks, MNB

Hungary's government is considering National Bank of Hungary (MNB) proposals on assistance for borrowers with forex-based mortgages as well as...

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...