Finance

Ratings

S&P downgrades Hungary credit rating on budget concerns

Standard & Poor's has cut Hungary's credit ratings on concern the government's plan to fix the budget deficit may not...

Banking

Gov’t submits bill to tax companies’ extra stock of cash

A cabinet meeting on Tuesday approved a proposal that would tax businesses' stock of cash minus payouts in order to...

Banking

Bourse limits FHB price change to 30% for Wednesday

The Budapest Stock Exchange (BÉT) announced on Wednesday it would suspend trading in shares of Land Credit and Mortgage Bank...

Banking

PM announces new taxes, other changes

The government will not change the family support system, will continue adjusting pensions to cost of living and will keep...

MNB

GDP up 4.6% yr/yr in Q1

Hungary's economy expanded 4.6% year on year in volume terms in the first quarter of 2006, according to unadjusted figures,...

MNB

International reserves rise €236 mln in May

Hungary's international reserves increased €236 million in May, after a €1.081 billion fall in April, National Bank of Hungary (MNB)...

Banking

Deficit reduction package contains equal parts cost cuts, revenue increases

The government envisions in its new program a Ft 1,000 billion deficit reduction by the end of 2007, resulting in...

MNB

OTP issues 100,000 AmEx cards in a year

OTP Bank Rt has issued 100,000 American Express credit cards in the past 12 months, triple the number expected, deputy...

MNB

Banks call back Transelektro loans

The creditors of Ganz Transelektro Villamossági Rt (GTV), which exercises ownership rights over the troubled holding company Transelektro, have called...

MNB

Bourse turnover doubles in May

Double-counted turnover on the Budapest Stock Exchange (BÉT) was Ft 1,823.4 billion in May, more than double April's turnover of...

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...

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...

Net-zero Transition Becoming a Core Banking Issue

Banks have a central role to play in financing Hungary’s transition to a lower-carbon economy, not by withdrawing from carbon-intensive...