Finance

Ratings

Fitch Warns Against Impact of State Intervention in Banking Sector

Fitch Ratings warned that a windfall profit tax, interest rate caps, and a higher transactions duty threshold could "amplify" high...

Banking

Number of Bank Branches Shrinking

The branch network of domestic credit institutions continues to shrink, writes business daily Világgazdaság....

Banking

Erste Bank Hungary Closes Acquisition of Commerzbank Unit

Austrian-owned Erste Bank Hungary closed the acquisition of a 100+ stake in Commerzbank's local corporate banking subsidiary Commerzbank Zrt, the...

Trade

Czech Trade Deficit Increases in October

According to data from the Czech Statistical Office, the country's trade deficit widened to CZK 26.8 billion (EUR 1.1 billion)...

Banking

Garantiqa Marks 30th Anniversary

Garantiqa Hitelgarancia, a guarantor controlled by the state of Hungary, has officially marked its 30th anniversary, according to portfolio.hu....

Debt

General Gov’t Deficit at HUF 3.4 tln

Hungary's cash flow-based general government deficit, excluding local councils, had a HUF 3.466 trillion deficit at the end of November,...

Banking

Lawmakers Approve No-fee Cashback Service

MPs on Wednesday voted to give banking clients the chance to avail of cashback service, free of charge, up to...

MNB

MNB Int’l Reserves Rise EUR 633 mln in November

International reserves of the National Bank of Hungary (MNB) stood at EUR 37.517 billion at the end of November, up...

Banking

Magyar Bankholding Joins UN Environment Program Finance Initiative

Magyar Bankholding has joined the global cooperation established by the United Nations and was among the first Hungarian banks to...

Ratings

Scope Affirms OTP BBB+ Issuer Rating, Changes Outlook to Negative

Scope Ratings on Tuesday affirmed the BBB+ issuer rating of OTP Bank, Hungary's biggest commercial lender, but changed the outlook...

Debt

ÁKK Auctions off HUF 34.5 bln of 3-month T-bills

The Government Debt Management Agency (ÁKK) sold HUF 34.5 billion of discount three-month T-bills at auction on Tuesday, HUF 9.5...

Banking

Gov’t Extends Interest Rate Freeze to Student Loans

Hungary's government has decided to extend an interest rate freeze to free-purpose student loans, keeping the rate for the credit...

Banking

Banking Sector Earnings Fall 12% in Q1-Q3

Combined after-tax profit of Hungarian banks fell 12.4% year-on-year to HUF 562 billion in Q1-Q3 as write-downs and provisions weighed,...

Trade

Deficit of External Trade in Goods at EUR 745 mln in Sep

Hungary's deficit of the external trade in goods was EUR 745 million in September, according to data published by the...

Banking

Insurers’ Premiums Revenue Climbs 10% in Q1-Q3

Hungarian insurers' revenue from premiums rose 10.2% year-on-year to HUF 1.104 trillion in Q1-Q3, data released by the National Bank...

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...