Finance

Banking

MKB Bank Completes Takeover of Sberbank Hungary Loan Portfolio

MKB Bank on Monday said it has completed the takeover of the credit portfolio of failed Sberbank Magyarország, according to...

Banking

Erste Group earnings in Hungary fall as windfall profit tax weighs

Austria's Erste Group booked a first-half net income EUR 6.6 million at its business in Hungary, dropping 92% from the...

MNB

MNB commitment to price stability undoubted, says dep gov

In the current extraordinary environment, only decisive, credible monetary policy, based on a step-by-step approach, can lead to success, and...

Debt

ÁKK sells HUF 38.5 bln of bonds at auction, over plan

The Government Debt Management Agency (ÁKK) sold HUF 38.5 billion of bonds at auction on Thursday, over the plan, according...

MNB

MNB raises 1-week deposit rate by 100 bp to 10.75%

The National Bank of Hungary (MNB) raised the rate for its one-week deposit facility by 100 bp to 10.75% ahead...

Banking

EIB funds to help rebuild Ukraine

The European Investment Bank has said it will provide funds to Ukraine to help it repair critical infrastructure damaged during...

Debt

ÁKK buys back HUF 27.3 bln of bonds at auction

The Government Debt Management Agency (ÁKK) bought back a combined HUF 27.3 billion of bonds before maturity at a repurchase...

MNB

MNB raises base rate by 100 bp to 10.75%

The Monetary Council of the National Bank of Hungary (MNB) raised the central bank base rate by 100 bp to...

MNB

Pallas Athene Foundation assets close to HUF 281 bln

Assets of the National Bank of Hungary's Pallas Athene Foundation reached HUF 281.2 billion at the end of the second...

Ratings

Varga welcomes Fitch affirmation of investment grade rating

Finance Minister Mihály Varga welcomed Fitch Ratings' affirmation of Hungary's investment grade 'BBB' rating at a scheduled review on Friday,...

Ratings

Fitch affirms Hungary ‘BBB’ rating with a stable outlook

Fitch Ratings on Friday affirmed Hungary's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB' with a stable outlook, according to...

Debt

ÁKK sells HUF 22.5 bln of securities at auction, under plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 22.5 billion of securities at auction on Thursday, under the...

MNB

MNB augurs improvement in external balance indicators from 2023

The National Bank of Hungary (MNB) attributed a continuing decline in Hungary's external balance indicators to a worsening trade balance...

Banking

EBRD to support Moroccan wind upgrade

The owner of one of Africa's oldest wind farms has secured financing to repower the facility to double its capacity...

MNB

MNB cautions Revolut clients in Hungary

The National Bank of Hungary (MNB) on Tuesday repeated a warning concerning the lack of local deposit insurance and legal...

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...