Finance

Debt

ÁKK Modifies 2023 Financing Plan

Hungary's Government Debt Management Agency (ÁKK) announced late on Monday that it is modifying its financing plan for 2023 in...

Banking

M&A Activity Impacts Banking Sector Profit

First-half net income of Hungarian banks jumped 333% year-on-year to HUF 978 billion, lifted by the impact of a merger...

MNB

ECB Clears Proposed Amendment to Hungary Central Bank Act

The European Central Bank (ECB) has cleared the government's proposed amendment to the central bank act, Finance Minister Mihály Varga...

Debt

ÁKK to Relaunch Switch Auctions

Hungary's Government Debt Management Agency (ÁKK) on Friday announced the relaunch of switch auctions, with new conditions, from September 6,...

Banking

Competition Driving Down Interest Rates on Home Loans

The competition between banks for good customers is increasing, and to this end, loan interest rates at financial institutions have...

Ratings

Moody’s Affirms Hungary Baa2 Rating, Stable Outlook

Moody's Investors Service affirmed Hungary's Baa2 sovereign rating, two notches over the investment grade threshold, with a stable outlook at...

MNB

MNB Publishes Progress Report

The National Bank of Hungary (MNB) has published a progress report on action policymakers have taken on a set of...

Banking

Instant Payment System Transaction Threshold Rises to HUF 20 mln

The value threshold for transactions made using Hungary's instant payment system has risen from HUF 10 million to HUF 20...

Banking

Countries With Most to Least Expensive ATM Transaction Fees

Wise, a foreign exchange company based in the United Kingdom, analyzed 20 European countries to compile a list of where...

Banking

Households Continue to Make Net Withdrawals in July

Households made net withdrawals of HUF 154 billion from their accounts at Hungarian banks in July, monthly data released by...

Banking

MBH Group H1 Earnings Reach HUF 84.7 bln

The after-tax profit of MBH Group, Hungary's second-biggest commercial lender, reached HUF 84.7 bln in the first half, state news...

Banking

Companies Net Borrowers in July

Non-financial companies borrowed net HUF 165 billion from local lenders in July, news agency MTI reports, citing monthly data released...

Trade

Hungary Trade in Services Surplus at EUR 2.7 bln in Q2

In Q2 2023, Hungary's external trade in services surplus reached EUR 2.7 billion, according to data published by the Central...

MNB

MNB Cuts O/N Collateralised Loan Rate by 100 bp

The Monetary Council of the National Bank of Hungary (MNB) decided to leave the base rate on hold at 13%,...

Banking

Lenders’ Sentiment Worsens in H1

Banks' economic sentiment deteriorated in the first half of the year, news agency MTI reports, citing a survey conducted by...

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...