Finance

Banking

Per-minute telephone tax unpredictable revenue source, telcos say

The per-minute telephone tax would not provide a predictable revenue source for the central budget, while it would substantially change...

MNB

Parliament should approve key figures of 2013 budget, tax laws before summer recess, PM suggests

Prime Minister Viktor Orbán has asked the parliamentary group of the governing Fidesz-KDNP alliance to approve the key figures of...

Ratings

Move towards EU talks

Fitch Ratings called the European Commission's go-ahead on Wednesday for talks with Hungary on precautionary financial assistance it is seeking...

MNB

Rate-setters say banking system stable, but ability to support growth weakened

The rate-setting Monetary Council of the National Bank of Hungary said the country's banking system is stable and resilient, but...

Banking

Telenor in talks with gov’t on proposed telephone-call, text-message tax

Communications Director István Kutas of Telenor Magyarország, the Hungarian unit of Norwegian telecommunications company Telenor, told MTI that the company...

MNB

MNB starts euro sales to support conversion of delinquent fx loans

The National Bank of Hungary (MNB) is to begin euro sale operations to convert non-performing foreign currency loans delinquent for...

Banking

Hungary rate-setters keep key rate on hold for fourth month in a row

The National Bank of Hungary's Monetary Council decided to keep the central bank's key rate on hold at 7.00% at...

Banking

Gov’t unveils Széll Kálmán Plan 2.0

Hungary's government on Monday unveiled the " Széll Kálmán Plan 2.0", an updated version of a structural reform plan presented...

MNB

Forint liquidity of banks rose slightly in March

Forint liquidity of the banking sector rose slightly in March relative to the previous month as central bank FX swaps...

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...