Finance

MNB

Dangerous loans on the rise

Banking

Gov’t payroll tax cuts to affect only small part of job-related costs – GKI

Planned cuts of employers' payroll taxes, announced as part of a government action plan to boost employment on Monday, affect...

Banking

Subsidizing team sports – New Hungarian tax practice

The finalization of the new legislative background on subsidies to spectator team sports – football, handball, basketball, water polo and...

Banking

Government to fund action plan to save jobs, help small businesses from financial transaction duty – PM

In order to save jobs, the Government wants to halve employers' payroll taxes on wages of employees less than 25...

MNB

Banks to raise interest rates of subsidized home loans

MNB

Hungary net gov’t financing requirement 4.8% of GDP in four quarters ending Q1

Hungary's general government net financing requirement reached 3.1% in the first quarter of 2011 and reached 4.8% of GDP in...

MNB

GKI raises inflation forecast for 2012

Hungarian economic research company GKI raised its projection for average annual inflation in 2012 from 5.3% forecast in March to...

MNB

MNB cuts inflation projection, projects GDP contraction for 2012

The National Bank of Hungary (MNB) cut its projection for average annual inflation in 2012 to 5.3% from a 5.6%...

Banking

Gov’t plans to halve tax preference for wage compensation in 2013

The government plans to maintain a wage compensation scheme next year, but wants to halve the related tax preference, a...

MNB

Swiss franc remains firm if crisis goes on

It’s not the Swiss franc’s strength that made it so attractive amongst asset managers and investors, but the weakness and...

Banking

Transfer pricing in focus of tax audits

Due to increasing cross border activities between affiliated companies, tax authorities are focusing more on the prices applied by affiliates...

Banking

2014 rise of transaction duty is only technical, govt official official says

The revenue target from a new financial transaction duty is higher for 2014 than for 2013 not because the government...

MNB

2013 budget bill targets 2.2% ESA deficit to GDP

Hungary's government submitted the 2013 budget bill with a targeted Maastricht-conform general government deficit of HUF 686.5 billion or 2.2%...

MNB

Interest picks up for exchange rate limit scheme

The number of borrowers with foreign currency-denominated loans interested in participating in an exchange rate limit program has jumped since...

MNB

Tightening of credit conditions not as broad as expected, MNB said

Credit conditions for corporate and retail clients of Hungarian lenders were reported to have tightened in the first quarter, according...

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...