Finance

Banking

Households Continue to Make Net Withdrawals in October

Households made net withdrawals of HUF 179 billion from their accounts at Hungarian banks in October, monthly data released by...

Banking

Nagy: More Involvement in Insurance Market

Minister of Economic Development Márton Nagy told insurers to expect a "more active regulatory presence" in their market at a...

Banking

Companies Borrow HUF 256 bln in October

Non-financial companies borrowed net HUF 256 billion from Hungarian banks in October, according to monthly data released by the National...

Banking

MNB Allots HUF 2.135 tln of 2-month Deposits 

The National Bank of Hungary (MNB) allotted HUF 2.135 trillion of variable-rate two-month deposits at a tender on Wednesday, according...

Trade

Surplus of External Trade in Services at EUR 2.69 bln in Q3

Hungary's surplus on external trade in goods stood at EUR 2.69 billion in Q3 2022, according to data published by...

Banking

MKB Q1-Q3 Earnings Climb 16%

Consolidated after-tax profit of MKB Bank rose 16% year-on-year to HUF 92.6 billion in Q1-Q3, an earnings report released on...

Banking

Erste Holds Bank Holiday for Commerzbank Portfolio Migration

Erste Bank Hungary is holding a bank holiday from 10:00 in the evening on December 1 until midnight on December...

Banking

EBRD Lends EUR 43 mln to Modernize Serbia Cargo’s Rail Fleet

The European Bank for Reconstruction and Development is stepping up its support for Serbia's rail sector by extending a EUR...

Banking

K&H Bank Fined for Irregularities

The National Bank of Hungary (MNB) on Friday said it fined K&H Bank HUF 48 million for shortcomings and violations...

Banking

OTP Completes EUR 650 mln International Bond Issue

OTP Bank, Hungary's biggest commercial lender, on Friday announced a EUR 650 million issue on the international bond market, according...

MNB

MNB Warns of ‘Harmful Consequences’ of Rate Caps

Interest rate caps the government has rolled out for households with mortgages and SMEs may reduce borrowers' repayment burden, but...

Banking

EBRD Provides Guarantees to OTP Units in Ukraine

The European Bank for Reconstruction and Development (EBRD) is providing unfunded risk-sharing facilities to back up to half of EUR...

Banking

Polish Banking Sector Net Profit Fell by 40% in Jan-Sep

The net profit of Poland's banking sector in January-September amounted to PLN 5.52 billion (EUR 1.17 billion), a decrease of...

Debt

Hungary State Debt Ratio Falls to 75.9% at End-Q3

Hungary's state debt relative to GDP reached 75.9% at the end of the third quarter, preliminary data released by the...

Banking

Erste Bank Taking Over Customers From Commerzbank

The Commerzbank HQ on the banks of the Danube at Széchenyi rakpart 8 in District V....

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...