Finance

Banking

K&H Offering Currency Conversion Cost Refunds

K&H is refunding the currency conversion cost of card purchases for users who pay abroad, from August to the end...

Banking

Erste Bank Hungary Earnings Near EUR 108 mln in H1

Erste Bank Hungary's first-half net income reached EUR 107.9 million, climbing from EUR 6.6 mln in the base period, news...

Banking

OTP Acknowledges EU-wide Stress Test Results

OTP Bank, Hungary's biggest commercial lender, acknowledged on Friday the results of a 2023 stress test conducted by the European...

Debt

ÁKK Cuts Premium on Inflation-linked Retail Security

The Government Debt Management Agency (ÁKK) has announced it will cut the premium on the new series of its inflation-linked...

MNB

Policymakers Cut O/N Collateralized Loan Rate

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

MNB

MNB Offsetting Carbon Footprint in Drávaszentes

The National Bank of Hungary (MNB) is offsetting its annual carbon footprint with large-scale forest planting and lawn reconstruction in...

Debt

Gen Gov’t Deficit at HUF 2.896 tln in June

Hungary's cash flow-based general government balance reached HUF 2.896 trillion at the end of June, the Finance Ministry confirmed in...

Debt

Hungary Updates Green Bond Framework

The Government Debt Management Agency (ÁKK) has announced the publication of an updated Green Bond Framework to ensure issues are...

Banking

EUR 20 mln Guarantee for OTP Leasing Ukraine Operations by EBRD

The European Bank for Reconstruction and Development is supporting agribusiness and other critical industries in Ukraine by providing a EUR...

Banking

MBH Bank to Acquire Duna Takarék Bank

MBH Bank has signed a contract on the acquisition of a 98.46% stake in Duna Takarek Bank, Hungary's second-biggest commercial...

Banking

Euromoney Names UniCredit Best Bank in CEE

UniCredit Bank has received the award of Best Bank in Central and Eastern Europe from the Euromoney Awards for Excellence,...

Banking

Gránit Bank Offering New Student Bank Account Package

Gránit Bank is offering a new bank account package designed for students between 18 and 26 under the name Gránit...

Banking

Average Budapest Mortgage Over HUF 19 mln

Mortgages taken out by homebuyers in Budapest averaged HUF 19.3 million in the second quarter, one-third to over 50% more...

Trade

UBM Italy Trading Volume to Reach 100,000 Tonnes in 2023/24

UBM Holding expects crop trading volume of its newly established Italian unit to reach 100,000 tonnes in the 2023/2024 business...

Banking

OTP Acquires Serbian Fund Manager

OTP Bank's fund manager, OTP Alapkezelő, and its Serbian unit OTP Bank Srbija have acquired Serbian fund manager Ilirika DZU...

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...