Finance

Debt

Gen Gov’t Deficit Reaches HUF 1.525 tln in February 

Hungary's cash flow-based general government balance finished February with a HUF 1.525 tln deficit, the Finance Ministry said in a...

Ratings

Moody’s Acknowledges Strength of Local Economy in Credit Opinion

Moody's Investors Service has pointed to the strength and resilience of Hungary's economy as well as the government's commitment to...

Banking

Erste Earnings Fall 10% in 2022

After-tax profit of Austrian-owned Erste Bank Hungary fell 10% to HUF 53.5 billion last year, the lender's chairman-CEO, Radovan Jelasity,...

MNB

Central Bank Governor Criticises Gov’t Policy

National Bank of Hungary (MNB) governor György Matolcsy called out the government for implementing policy measures that have fueled inflation,...

Banking

Banking Sector Earnings Rise 4% in 2022

Combined after-tax profit of Hungarian banks rose 3.6% to HUF 833 billion last year as write-downs and provisions weighed, data...

Banking

Uncertain Economic Environment Slows Lending

The uncertain economic environment has resulted in slowing lending activity and increased caution, the National Bank of Hungary (MNB) said...

MNB

MNB ‘Firmly Rejects’ Lenders’ Protests Over Reserves Interest

The National Bank of Hungary (MNB) "firmly rejected" protests by the Hungarian Banking Association over changes to the rates the...

Banking

Companies Borrow Net HUF 411 bln in January

Non-financial companies borrowed net HUF 411 billion from local lenders in January, a new record, news agency MTI reports, citing...

Banking

Households Make Net Withdrawals of HUF 334 bln in January

Households made net withdrawals of HUF 334 bln from their accounts at Hungarian banks in January, monthly data released by...

Trade

Hungary Services Surplus at EUR 2.2 bln in Q4

The Q4 2022 surplus on Hungary's external trade in services was EUR 2.2 billion, EUR 724 million more than in...

MNB

MNB Policymakers Leave Base Rate on Hold

The Monetary Council of the National Bank of Hungary (MNB) left the central bank's base rate on hold at 13%...

Banking

K&H: SME Outlook Improved

The profit expectations and investment intentions of Hungarian micro, small, and medium-sized enterprises improved somewhat in November last year compared...

Ratings

S&P Confirms Poland’s Rating at A- With Stable Outlook

Poland's long-term rating in foreign currency was affirmed at the A- level with a stable outlook by Standard & Poor's...

Debt

Czech C/A Deficit Narrows in December

The Czech Republic's current account deficit narrowed significantly to CZK 7.77 billion (EUR 32.7 million) in December, from CZK 27.3...

MNB

MNB O/N Deposits Soak up Banking Sector Liquidity in January

The average stock of O/N deposits allocated by the National Bank of Hungary (MNB) at daily quick tenders rose by...

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...