Finance

Banking

Hungary banks want special tax ended soon

Hungary's special bank tax, passed into law in parliament on Thursday, could drive 8-10 banks into the red this year...

MNB

PannErgy sells 1.68 mln Pannunion shares

Alternative-energy company PannErgy announced on the website of the Budapest Stock Exchange that it had sold 1,677,914 shares of its...

MNB

PannErgy sells 1.68 mln Pannunion shares

Alternative-energy company PannErgy announced on the website of the Budapest Stock Exchange that it had sold 1,677,914 shares of its...

MNB

Aktiv Kapital completes major portfolio acquisition

Norway’s Aktiv Kapital has entered into an agreement with one of the world leading financial institutions to purchase a consumer...

MNB

Aktiv Kapital completes major portfolio acquisition

Norway’s Aktiv Kapital has entered into an agreement with one of the world leading financial institutions to purchase a consumer...

Banking

MOL to be main “victim” of Robin Hood tax

Energy producers and distributors/traders will have to pay an extra 8% profit tax next year according to a bill submitted...

Banking

MOL to be main “victim” of Robin Hood tax

Energy producers and distributors/traders will have to pay an extra 8% profit tax next year according to a bill submitted...

MNB

China’s Hu, Bush talk on financial crisis

Chinese President Hu Jintao and US President George W. Bush spoke by telephone about the financial crisis engulfing Wall Street,...

MNB

China’s Hu, Bush talk on financial crisis

Chinese President Hu Jintao and US President George W. Bush spoke by telephone about the financial crisis engulfing Wall Street,...

MNB

The $700-billion bailout question

The best test of whether the US government's $700 billion check will be enough to save its economy is how...

MNB

The $700-billion bailout question

The best test of whether the US government's $700 billion check will be enough to save its economy is how...

MNB

Merrill deal may pay off for Bank of America

Bank of America's (BofA) quest to buy Merrill Lynch should pay off for BofA and its investors if it is...

MNB

Merrill deal may pay off for Bank of America

Bank of America's (BofA) quest to buy Merrill Lynch should pay off for BofA and its investors if it is...

Ratings

Swift AIG cuts hint at more downgrades ahead

Credit rating agencies, criticized for moving too slowly in cutting ratings on Wall Street firms and the complex instruments they...

Ratings

Swift AIG cuts hint at more downgrades ahead

Credit rating agencies, criticized for moving too slowly in cutting ratings on Wall Street firms and the complex instruments they...

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...