Finance

Banking

CIB Group Earnings Double in 2022

CIB group's after-tax profit rose 128% to HUF 36.1 billion last year, the lender said on Thursday, according to a...

Banking

Magyar Bankholding Prepares for Final Merger With Good Results

The chief business officer of individual services at Hungarian Bankholding, Levente Szabó, reveals the details behind strong corporate lending results...

Banking

Gov’t Extends Deposit Rate Cap Till End-June

Hungary's government has decided to extend a cap on interest rates on deposits of financial companies and some private individuals...

MNB

Ministry of Justice Joins MNB’s CyberShield Program

The Ministry of Justice has joined a campaign launched by the National Bank of Hungary (MNB) to educate and inform...

Banking

Hungarian ‘Money Week’ Program Reaches 1.5 mln Students 

Pénz7, an annual program attached to the European Money Week initiative that seeks to foster the financial savvy of Hungarian...

Banking

Hungary Banking System ‘Strong’, ‘Stable’ – Varga

Finance Minister Mihaly Varga said Hungary's banking sector is "strong and in good working order" in spite of the worsening...

Banking

Aegon, OTP Fund Managers Segregate Illiquid Russian Assets

The fund managers of Aegon and OTP are segregating illiquid assets in their Russian equities funds, the National Bank of...

Debt

ÁKK Sells HUF 30 bln in T-bills

The Government Debt Management Agency (ÁKK) sold HUF 30 billion of discount treasury bills at auction on Tuesday, as planned,...

Banking

Value of Bank Card Purchases Rises 32% in Q4 

The value of purchases in Hungary made with locally-issued bank cards climbed 32% year-on-year to HUF 3.584 tln in the...

Banking

Lenders Refund Rest of Contribution to Cover Sberbank Depositor Comp

The board of Hungary's National Deposit Insurance Fund (OBA) has decided to refund the rest of a HUF 73.5 billion...

Banking

MNB O/N Deposits, Bonds Soak up Banking Sector Liquidity in Feb

The average stock of National Bank of Hungary (MNB) O/N deposits allocated at daily quick tenders and of central bank...

Banking

MNB Issues Another Caveat for Revolut Clients

The National Bank of Hungary (MNB) on Monday repeated a warning concerning the lack of local deposit insurance and legal...

Banking

One-offs Weigh on OTP Earnings

Consolidated after-tax profit of OTP Bank, Hungary's biggest commercial lender, fell in the fourth quarter and for the full year...

Debt

ÁKK Rolls out New Retail Euro Gov’t Security

The Government Debt Management Agency (ÁKK) on Thursday announced the launch of a new retail government security denominated in euros...

Trade

Deficit on External Trade in Goods at EUR 165 mln in January

Hungary's external trade in goods deficit amounted to EUR 165 million in January 2023, according to data published by the...

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...