Finance

Debt

OTP announced the issue of €500 million perpetual NC10 subordinated notes

OTP Bank Plc. gave the following announcement in line with its obligations set by the Capital Market Act: on October...

MNB

Household debt stock increases 22% in January-September

Gross household debt was Ft 4,620 billion at the end of September, 22% more than at the end of 2005,...

Banking

Audi seeks compensation in Hungary for tax

Volkswagen AG's Audi luxury car unit is demanding the Hungarian government compensate it for a new tax on corporate profits,...

Ratings

Moody’s raises ratings at 17 government financial institutions

Czech Export Bank and , Hungarian Development Bank are among 17 government-affiliated financial institutions that had their debt ratings raised...

MNB

Consumer loan rates fall, home loan rates rise in September

Retail rates for forint-denominated consumer loans fell in September, while rates for home loans rose, the National Bank of Hungary...

Banking

Veres warns unions against proposals endangering deficit target

Finance Minister János Veres warned unions and employers on Friday against any proposals which would raise the fiscal deficit in...

Banking

Budget revenues may exceed October goal, PM says

Prime Minister Ferenc Gyurcsány, struggling to reduce the European Union's widest budget deficit, said budget revenue may exceed the government's...

MNB

Hungarian forint rises to 5-month high as risk appetite spurred

Hungary's forint climbed to its highest in almost five months against the euro as signs US interest rates will be...

MNB

Romanian eight-month current-account gap widens 51%

Romania's current-account deficit widened 51% in the first eight months of the year from the year-earlier period, triggered by an...

MNB

2005 fiscal deficit 6.5%, up from preliminary – KSH

Hungary's 2005 ESA95 general government deficit was 6.5% of GDP after adjustment for the pension reform and was 7.8% of...

Banking

Gov’t considers freezing income tax brackets until 2010

At a first reading of the 2007 budget on Wednesday, the government considered freezing personal income tax brackets until 2010...

MNB

Budget debt up 14.4% in January-September

Foreign currency- and forint-denominated debt of the central government rose a combined Ft 1,841.5 billion (14.4%) in January-September, compared to...

MNB

MFB to offer preferential loans to former state workers from November

The Hungarian Development Bank (MFB) Zrt will start offering preferential loans to public sector workers laid off as a result...

MNB

Hanwha Bank Hungary issues €10 mln in subordinated bonds

Hanwha Bank Hungary Zrt, owned by South Korea's Hanwha group, will privately place €10 million worth of five-year subordinated bonds...

Banking

Property tax could bring in as much as Ft 110 bln a year

Banking

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...

Banking

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

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

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...

Banking

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...

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...

MNB

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...

Banking

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...

Banking

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...

Trade

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...

Ratings

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...

MNB

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

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...