Finance

Banking

OTP Q2 Profits Fall 38% y.o.y.

Consolidated second-quarter after-tax profit of OTP Bank fell 38% year-on-year to HUF 76.1 billion, dragged lower by a windfall profit...

MNB

MNB Deputy Governor Warns of Autumn Recession

According to National Bank of Hungary (MNB) Deputy Governor Barnabás Virág, there is a very serious risk of a global...

Trade

Ukraine’s First Grain Shipment Snubbed

A Lebanon-based buyer rejected the first grain shipment out of Ukraine via the Black Sea, according to the Ukrainian embassy...

Debt

Tungsram Bankruptcy Continuing Into Next Season

The majority of Tungsram Operations Kft.'s suppliers, some 58% of the unsecured creditors, supported the company's recovery plan and settlement...

MNB

MNB Updates Green Recommendation

The National Bank of Hungary (MNB) on Friday announced the issue of an update to its supervisory recommendation for lenders...

MNB

MNB Int’l Reserves Fall EUR 1.639 bln in July

International reserves of the National Bank of Hungary (MNB) stood at EUR 35.841 billion at the end of July, down...

Debt

Croatia’s Gross Foreign Debt up in April

Croatia's gross foreign debt rose by 9.3% on the year in April, reaching EUR 48.102 billion, central bank figures showed....

Banking

Kafijat Shareholder Group in OTP Terminated

The shareholder group in OTP Bank of Kafijat and MGTR Alliance has been terminated, the shareholders informed the lender on...

Debt

HUF 10 bln of Bonds Sold at ÁKK Switch Auction

The Government Debt Management Agency (ÁKK) sold HUF 10 billion of bonds maturing in 2031 for ones expiring in 2023...

Banking

HUF 128.2 bln in Home Loans Contracts Signed in June

Hungarian banks signed home loan contracts worth HUF 128.2 billion in June, down 6% from the same month a year...

Banking

Romanian C. Bank FX Reserves Rise in July

The foreign exchange (FX) reserves held by Romania's central bank, excluding gold, rose to EUR 42.768 billion at the end...

Trade

Trade Deficit Continues for 11th Consecutive Month in May

Hungary had a trade deficit for the eleventh month in a row in May, according to a second reading of...

Banking

Companies Borrow Close to HUF 300 bln in June

Non-financial companies took out net HUF 296 billion of loans from Hungarian banks in June, state news wire MTI reports...

Banking

Household Deposits, Withdrawals Level out After Feb Windfall

Households withdrew about as much as they deposited from their accounts at Hungarian banks in June, state news wire MTi...

Trade

Rail Cargo Service Restarts on Upgraded Szeged-Röszke Line

Rail cargo service between Szeged (163 km southeast of Budapest) and Röszke (164 km southeast), on Hungary's border with Serbia,...

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...