Finance

Banking

1/4 of Farm Sector Borrowers Join Repayment Moratorium

Around one-quarter of eligible farm sector borrowers have joined a repayment moratorium started in September, the National Bank of Hungary...

MNB

Watchdog Fines OTT-ONE, Threatens Delisting

The National Bank of Hungary (MNB) on Wednesday said it fined listed IT company OTT-ONE HUF 2 million for repeated...

Banking

K&H Bank Q1-Q3 Profit Falls 48%

After-tax profit of K&H Bank, the Hungarian unit of Belgium's KBC, fell 48% year-on-year to HUF 31 billion in Q1-Q3,...

Banking

Policy Tools Reduce HUF Liquidity of Banking Sector in Oct

Sterilization instruments rolled out by central bank policymakers in October caused forint liquidity in the banking sector to narrow during...

Debt

Hungary Issues EUR 1 bln Green Eurobond

Hungary issued a EUR 1 billion green eurobond on Monday, the Government Debt Management Agency (ÁKK) said, according to a...

MNB

MNB Fines CreditLure for Unlicenced Activities

The National Bank of Hungary (MNB) on Monday said it fined CreditLure HUF 43 million for providing unlicensed financial services,...

Banking

OTP Could Announce Uzbek Acquisition Soon – Orbán

Prime Minister Viktor Orbán said OTP Bank, Hungary's biggest commercial lender, could announce soon the acquisition of a lender in...

Trade

Slovakia Trade Deficit Widens in Sep

Slovakia's trade deficit increased to EUR 473.3 million in September from EUR 83.3 million in the same month last year,...

Banking

EBRD Lending EUR 9 mln to Bosnia’s Raiffeisen Bank in SME Support

The European Bank for Reconstruction and Development said it is providing a EUR 9 million loan to Bosnia and Herzegovina's...

Debt

HUF 101.3 bln Budget Surplus in October

Hungary had a HUF 101.3 billion budget surplus for October, Minister of Finance Mihály Varga said in a post on...

Banking

OTP Q3 Earnings Climb 57%

Consolidated third-quarter after-tax profit of OTP Bank, Hungary's biggest commercial lender, rose 57% to HUF 189.2 billion as margins improved...

Banking

Erste Bank Hungary Earnings Fall 59% in Q1-Q3

After-tax profit of Austrian-owned Erste Bank Hungary fell 59% year-on-year to HUF 18.3 billion in Q1-Q3, chairman-CEO Radovan Jelasity said...

MNB

MNB Int’l Reserves Fall EUR 1.856 bln in October

International reserves of the National Bank of Hungary (MNB) stood at EUR 36.884 bln at the end of October, down...

Banking

Loan Officers Survey Points to Tighter Corporate Credit Conditions

About 71% of Hungarian banks expect to tighten conditions for corporate credit in Q4 2022 and Q1 2023, the latest...

MNB

MNB Fines 9 Banks HUF 18 mln

Based on an investigation by the National Bank of Hungary (MNB), the banking sector was able to comply with 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...