Finance

MNB

Magyar Telekom initiated withdrawal of credit ratings

Magyar Telekom, the leading Hungarian telecommunications service provider, announced that it has initiated the withdrawal of its credit ratings from...

MNB

US Fed pumps $47.25 billion into financial system

The US Federal Reserve said Thursday that it had pumped $47.25 billion into the nation’s financial system to help ease...

MNB

US Fed pumps $47.25 billion into financial system

The US Federal Reserve said Thursday that it had pumped $47.25 billion into the nation’s financial system to help ease...

MNB

Bank of America to writedown $3 billion

Bank of America, the second-largest US financial institution, said Tuesday it will have to writedown about $3 billion in debt...

MNB

Bank of America to writedown $3 billion

Bank of America, the second-largest US financial institution, said Tuesday it will have to writedown about $3 billion in debt...

MNB

Goldman holds more sour debts than rival firms

Goldman Sachs Group Inc held a bigger proportion of hard-to-value assets at the end of the Q3 than Citigroup Inc...

MNB

Goldman holds more sour debts than rival firms

Goldman Sachs Group Inc held a bigger proportion of hard-to-value assets at the end of the Q3 than Citigroup Inc...

MNB

IMF ready to cancel Liberia debt

The International Monetary Fund says it has secured sufficient funding to start canceling Liberia’s debt to the international agency....

MNB

IMF ready to cancel Liberia debt

The International Monetary Fund says it has secured sufficient funding to start canceling Liberia’s debt to the international agency....

MNB

Gold ends lower, but gains over $26 on the week

Gold futures finished slightly lower on Friday, but posted a gain of over $26 on the week, as dollar weakness...

MNB

Gold ends lower, but gains over $26 on the week

Gold futures finished slightly lower on Friday, but posted a gain of over $26 on the week, as dollar weakness...

MNB

Gold holds in 1% range ahead of Bernanke speech

Spot gold prices moved sideways in a broad 1% range early Thursday, dipping to $828 per ounce just ahead of...

MNB

Gold holds in 1% range ahead of Bernanke speech

Spot gold prices moved sideways in a broad 1% range early Thursday, dipping to $828 per ounce just ahead of...

Ratings

Fitch raises China’s ratings as finances improve

Fitch Ratings upgraded China’s foreign and local currency sovereign ratings on Tuesday, citing better national finances and less need for...

Ratings

Fitch raises China’s ratings as finances improve

Fitch Ratings upgraded China’s foreign and local currency sovereign ratings on Tuesday, citing better national finances and less need for...

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...