Finance

MNB

MNB Pledges Nearly EUR 14 million to IMF Concessional Financing Vehicle

The National Bank of Hungary (MNB) has pledged nearly EUR 14 mln to the International Monetary Fund's Poverty Reduction and...

Banking

MBH Bank Issued EUR 350 mln in MREL-eligible Bonds

MBH Bank issued MREL [minimum requirement for own funds and eligible liabilities]-eligible bonds with a nominal value of EUR 350...

Banking

Forint Liquidity of Banking Sector Decreases in September

Forint liquidity of the Hungarian banking sector declined in September, reflected in a drop in the average stock of lenders'...

MNB

MNB Says Inflation Slowdown Driven by Drop in Regulated Prices

The National Bank of Hungary (MNB) said the prices of regulated products and services, which fell on the base effect...

Banking

UniCredit Mortgage Bank Issues HUF 20 bln Green Bond

UniCredit Mortgage Bank has sold HUF 20 billion of green bonds at auction, the Hungarian lender said on Wednesday, according...

Banking

MBH Bank Opens 1st Digital Kiosk in Budapest

MBH Bank debuted its first digital customer service point, installed at the University of Veterinary Medicine in Budapest, at the...

Trade

Hungary Trade Surplus at EUR 708 mln in August

Hungary's external trade in goods surplus amounted to EUR 708 million in August 2023, according to data published by the...

Banking

Nagy Thanks Lenders for Cooperation in Capping Rates

Minister of Economic Development Márton Nagy thanked lenders for their cooperation in implementing voluntary rate caps on new corporate and...

MNB

MNB Fines Lenders for Early Repayment Compliance Shortfalls

The National Bank of Hungary (MNB) has fined four lenders a combined HUF 27 million for failure to fully comply...

Ratings

2023 Deficit Revision Makes 2024 Target ‘Challenging’ – Fitch

Hungary's decision to raise its 2023 general government deficit target to 5.2% of GDP from 3.9% makes reaching next year's...

Debt

Fiscal Council Acknowledges New Deficit Target

Hungary's Fiscal Council, a body established to weigh in on budget matters, acknowledged the government's new 2023 deficit target in...

MNB

MNB Int’l Reserves Rise EUR 48 mln in September

International reserves of the National Bank of Hungary (MNB) stood at EUR 39.662 billion at the end of September, up...

Debt

ÁKK Exchanges HUF 15 bln of Bonds at Switch Auction

The Government Debt Management Agency (ÁKK) exchanged HUF 15 billion of securities expiring in 2035 for bonds maturing in 2024...

Banking

Minister Asks Banks to Introduce Voluntary Rate Caps

Economic Development Minister Márton Nagy has asked lenders to apply voluntary rate caps to new corporate and retail credit from...

MNB

MNB Keeps 0.5% Capital Buffer Activation Date

The Financial Stability Board of the National Bank of Hungary (MNB) has decided to leave the timing for the activation...

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...