Finance

MNB

MNB Int’l Reserves Rise EUR 500 mln in December

International reserves of the National Bank of Hungary (MNB) stood at EUR 41.4 billion at the end of December, up...

Banking

Households Make Net Deposits at Bank Accounts in November

Households made net deposits of HUF 128 billion into their accounts at Hungarian banks in November, news agency MTI reports,...

Trade

Trade Surplus at EUR 1.7 bln in November

Hungary's surplus on external trade in goods amounted to EUR 1.7 billion in November 2023, according to data published by...

Debt

Deficit Relative to GDP Improves in Q3 2023

According to preliminary data, the deficit as a proportion of GDP was 3.7% in the third quarter, improving by HUF...

Trade

Hungarian Vintners Export Around 3.5 mln l of Sparkling Wine

Hungarian vintners export about 3.5 million liters of sparkling wine a year, the National Chamber of Agriculture (NAK) said on...

MNB

MNB: Electronic Money Circulation Continues Expansion

The expansion of electronic money circulation continued in the third quarter of 2023, according to the latest summary of the...

MNB

MNB: Inflation Expected to Fall to 6% by Year-end

Hungary's inflation rate is set to fall to around 6% by year-end, level with the average for the region, the...

Ratings

Scope Changes Outlook on 4iG Rating to Positive

Scope Ratings changed the outlook on listed Hungarian ICT company 4iG's BB- issuer rating to positive from stable in an...

Ratings

Scope Changes Outlook on Hell Energy B+ Rating to Positive

Scope Ratings has affirmed Hungarian soft drink maker Hell Energy's B+ rating and revised the outlook to positive from stable,...

MNB

MNB Cuts Base Rate by 75 bp to 10.75%

The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 75...

Ratings

Fitch Affirms Hungary’s ‘BBB’ Rating With Negative Outlook

Fitch Ratings affirmed Hungary's 'BBB' sovereign rating with a negative outlook at a scheduled review on Friday, according to a...

Ratings

Moody’s Changes MOL Outlook to ‘Positive’

Moody's Investors Service changed its outlook on Hungary's MOL and MOL Group Finance yesterday to "positive" from "stable," according to...

Banking

Value of Bank Card Payments Climbs 17% in Q3

The value of payments in Hungary made with locally-issued bank cards climbed 17% year-on-year to HUF 3.736 trillion in the...

Banking

Lender Liquidity Increases

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

MNB

MNB Probes Risks Related to AI in Banking, Insurance Sectors

The National Bank of Hungary (MNB) has conducted a topical probe of risks related to the use of artificial intelligence...

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...