Finance

Banking

K&H Reminds Students to Balance Fun, Finances for the Summer

The summer offers a unique opportunity for students to embrace the joys of both work and leisure. However, K&H notes...

Trade

Hungary Trade Surplus at EUR 308 mln in April

Hungary's surplus on the external trade in goods amounted to EUR 308 million in April 2023, according to data by...

Banking

Hungary Asks OECD’s Help to Remove OTP From ‘War Sponsors’ List

Hungary has asked the OECD to take steps in the interest of removing OTP Bank, Hungary's biggest commercial lender, from...

Banking

Lenders’ Q1 Profit Quadrupled to HUF 321 bln

The combined after-tax profit of Hungarian lenders quadrupled to HUF 321 billion in the first quarter from HUF 78 bln...

MNB

MNB Int’l Reserves Fall EUR 358 mln in May

International reserves of the National Bank of Hungary (MNB) stood at EUR 39.52 billion at the end of May, down...

Banking

Economic Development Ministry Responds to Banking Concerns

The Ministry of Economic Development issued a statement on its website Friday responding to the Hungarian Banking Association's negative assessment...

Ratings

Fitch Revises Outlook on MOL ‘BBB-‘ Issuer Rating to Stable

Fitch Ratings affirmed Hungarian oil and gas company MOL's 'BBB-' rating and revised the outlook to stable from negative on...

Trade

Trade Surplus at EUR 886 mln in March

Hungary's trade surplus reached EUR 886 million in March, the Central Statistical Office (KSH) said in a second reading of...

Banking

Companies Make Net Repayments on Credit in April

Non-financial companies repaid net HUF 14 billion of loans to local lenders in April, monthly data released by the National...

Banking

Banking Assoc Delivers Negative Assessment of Gov’t Measures

The Hungarian Banking Association warned that a government measure to extend the windfall profit tax on lenders to 2024, while...

Banking

Gránit Bank Earnings Nearly Triple in 2022

After-tax profit of Gránit Bank rose 195% to HUF 11.3 billion last year, chairman-CEO Éva Hegedüs said after the lender's...

MNB

MNB Decides on Technical Changes to Mandatory Reserve System

The National Bank of Hungary (MNB) on Friday said its policymakers decided to use a monthly balance sheet average, rather...

Banking

MFB Issues USD 1.125 bln Bond

The state-owned Hungarian Development Bank (MFB) issued a USD 1.125 billion bond on Wednesday, the Economic Development Ministry said on...

Banking

OTP Q1 Electronic Payments up 35% y.o.y.

The turnover of electronic payments processed in OTP Bank's systems fell by 5.5% in the first three months of the...

Banking

OTP Puts Romanian Subsidiary up for Sale 

Hungarian lender OTP Bank has officially confirmed, through an announcement made to the bank's directors, that OTP Bank Romania is...

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...