Finance

Banking

Moody’s Upgrades Erste Bank Rating

Credit rating agency Moody's upgraded the long-term deposit rating of Erste Bank Hungary, according to a recent report....

Banking

MBH Mortgage Bank Green Portfolio Increasing

The proportion of green financing in MBH Mortgage Bank’s outsourced loan portfolio is constantly increasing, according to the 2022 sustainability...

Banking

MNB Fines MBH Bank HUF 87 mln

The National Bank of Hungary (MNB) has fined MBH Bank HUF 87 million for regulatory shortcomings uncovered in a comprehensive...

Debt

Q2 State Debt Ratio Reaches 75%

Hungary's state debt relative to GDP had reached 75% of the year-end target by the end of the second quarter,...

MNB

MNB Increasing Number of Forex Swap Tenders

The National Bank of Hungary (MNB) said yesterday it will increase the amount of foreign exchange swap tenders providing euro...

Trade

NAK, BTT Concerned by Ukrainian Poultry, Egg Imports

The National Agriculture Chamber (NAK) and the Poultry Product Council (BTT) called for halting imports of Ukrainian poultry and eggs...

Debt

ÁKK Sells HUF 38.5 bln of Securities at Auction, Over Plan

The Government Debt Management Agency (ÁKK) sold HUF 38.5 billion of securities at auction on Thursday, HUF 13.5 bln more...

Debt

Hungary Current Account Surplus Climbs to EUR 547 mln in June

Hungary's current account showed a EUR 547 million surplus in June, following a EUR 396 mln surplus in the previous...

Banking

Hungary Leasing Market Grows 2% in H1

Leasing outlays rose 2% year-on-year to HUF 429.1 billion in the first half of this year, news agency MTI writes...

Banking

Forint Liquidity of Banking Sector Grows in July

Forint liquidity of the Hungarian banking sector expanded in July, mainly reflected in an increase of the average stock of...

MNB

MNB Calls on Lenders to Step up Proactive Liquidity Management

The National Bank of Hungary (MNB) has called on lenders to strengthen their proactive liquidity management amid the impacts of...

Debt

ÁKK Sells HUF 66 bln of Bonds at Auction, Over Plan

The Government Debt Management Agency (ÁKK) sold HUF 66 billion of bonds at auction on Thursday, more than double the...

Banking

OTP Q2 Profits Surge to HUF 382 bln

Consolidated second-quarter after-tax profit of OTP Bank, Hungary's biggest commercial lender, jumped 402% year-on-year to HUF 382.1 billion, supported by...

Banking

KBC Books Q2 Net Income of EUR 63 mln in Hungary

Belgium's KBC booked a net income of EUR 63 mln at its banking and insurance businesses in Hungary in the...

Banking

Invoice Factory Operators Charged

The Metropolitan Prosecutor's Office brought charges against members of a criminal organization in Budapest who, between 2016 and 2020, operated...

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...