Finance

Debt

ÁKK Fulfills 86% of 2022 Financing Plan

Hungary's Government Debt Management Agency (ÁKK) fulfilled 86% of its 2022 financing plan by the end of September, ÁKK said...

Banking

Sberbank Loan Portfolio Acquisition Lifts Lending Stock in Aug

The acquisition of the credit portfolio of failed Sberbank Magyarország "fundamentally influenced" lending transactions in the month of August, the...

Banking

Czech C. Bank Keeps Rates on Hold

The Czech National Bank kept its key interest rates unchanged for the second straight meeting on Thursday, according to Tradingeconomics.com....

Debt

ÁKK Sells HUF 40 bln in Securities

The Government Debt Management Agency (ÁKK) sold a combined HUF 40 billion of securities at auction yesterday, as planned, according...

Debt

Gov’t Sector Deficit 2.8% of GDP in H1 – KSH

Hungary's government sector had a HUF 893.2 billion deficit in the first half, equivalent to 2.8% of GDP, data released...

MNB

MNB Augurs Slowdown in Pace of Inflation After September

The National Bank of Hungary (MNB) expects CPI to continue to rise for the rest of the year, albeit at...

MNB

MNB Raises 1-Week Deposit Rate to 13%, Level With Base Rate

The National Bank of Hungary (MNB) raised the rate for its one-week deposit facility by 125 bp to 13% ahead...

Banking

MKB Bank, Takarékbank Merger to be Dubbed MBH Bank

MKB Bank and Takarékbank will merge in May 2023 and take the name MBH Bank, Magyar Bankholding said this week....

MNB

MNB Raises Base Rate by 125 bp to 13%

The Monetary Council of the National Bank of Hungary (MNB) raised the central bank base rate by 125 bp to...

Trade

Naturland Holding Shares Start Trading on BSE

Shares of Naturland Holding have started trading on the Budapest Stock Exchange's (BSE) Xtend platform, tailored to SMEs, the BSE...

Debt

Q2 C/a Deficit Reached EUR 2.63 bln

Hungary's current account had a EUR 2.630 billion deficit in Q2, according to quarterly data released by the National Bank...

Banking

Banking Sector in a Difficult Situation, Says Csányi

I feel that not everyone in a position managing the economy sees clearly that the banking sector is in a...

Debt

Czech Foreign Debt Decreased Slightly in Q2

Czech Republic's foreign debt decreased by CZK 64 billion (some EUR 2.6 billion) in the second quarter of 2022, lying...

Debt

ÁKK Adds 6-Month Tenor to T-Bills

The Government Debt Management Agency (ÁKK) on Wednesday said it decided to introduce a six-month discount Treasury bill, in addition...

Banking

Banking Assoc Wants Floating Mortgage Rate Freeze Phased Out 

The Hungarian Banking Association argued for a gradual phaseout of a freeze on floating mortgage rates in a statement issued...

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...