Finance

Banking

State Agrees to Sell Back 15% Stake in Erste Bank Hungary

State-owned Corvinus International Investment will sell back a 15% stake in Erste Bank Hungary to its Austrian parent, Erste Bank...

Banking

Continued Decline in Demand for Corporate Credit

A quarterly survey of loan officers published by the National Bank of Hungary (MNB) on its website yesterday shows a...

Banking

Magyar Eximbank Issues EUR 1 bln Eurobond

Magyar Eximbank issued a EUR 1 billion eurobond on international markets on Wednesday, the Economic Development Ministry said, according to...

MNB

MNB Int’l Reserves Rise EUR 658 mln in October

International reserves of the National Bank of Hungary (MNB) stood at EUR 40.320 bln at the end of October, up...

Trade

Hungary Trade Surplus at EUR 1.3 bln in September

Hungary's trade surplus amounted to EUR 1.3 billion in September 2023, according to data published by the Central Statistical Office...

Banking

Companies Make Net Withdrawals of HUF 337 bln in September

Non-financial companies made net withdrawals of HUF 337 billion from their accounts at Hungarian banks in September, state news wire...

Banking

Households Continue to Make Net Withdrawals in September

Households made net withdrawals of HUF 25 billion from their accounts at Hungarian banks in September, state news wire MTI...

Trade

Hungary Trade Surplus Widens to EUR 665 mln in August

Hungary's trade surplus reached EUR 665 million in August, widening from EUR 559 mln in the previous month, state news...

Banking

Erste Group Books Q1-Q3 Earnings of EUR 211 mln in Hungary

Austria's Erste Group booked Q1-Q3 net income of EUR 211 million at its business in Hungary, news agency MTI writes,...

Banking

Voluntary Rate Cap for Working Capital Credit to Fall to 11.5%

Economic Development Minister Marton Nagy and representatives of the Hungarian Banking Association agreed to reduce the voluntary rate cap for...

Debt

ÁKK Sells HUF 58.5 bln of Securities at Auction, Over Plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 58.5 bln of securities at auction on Thursday, HUF 15.5...

Banking

OTP Bank Opens New Branch in Fót

The branch network of OTP Bank has been expanded with a consultancy-oriented, accessible, and full-service branch in the town of...

Banking

Home Loan Outlays Halved in H1

Home loan outlays in Hungary dropped 50% year-on-year to HUF 294 billion in the first half, state news wire MTI...

MNB

Policymakers Cut Central Bank Base Rate by 75 bp to 12.25%

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

MNB

Regulator to Raise LTV Limit to 90% for 1st-time Homebuyers

The National Bank of Hungary (MNB) announced plans on Wednesday to raise the loan-to-value limit for first-time home buyers from...

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...