Finance

Banking

Value of bank card purchases rises one-third in Q1

The value of purchases in Hungary made with locally-issued bank cards climbed 33% year-on-year to HUF 2.606 tln in the...

Ratings

S&P affirms MOL ‘BBB-‘ rating with stable outlook

S&P Global Ratings on Tuesday affirmed Hungarian oil and gas company MOL's 'BBB-' rating with a stable outlook, according to...

Debt

Hungary C/A deficit reaches EUR 780 mln in April

Hungary's current account had a EUR 780 million deficit in April, state news wire MTI reports, citing preliminary monthly data...

Banking

Hungarians would like to use bank cards more during domestic holidays

People would like to use their bank cards much more often on holiday, but domestic retailers and service providers are...

MNB

MNB allows lenders to include FX funding for mortgage ratio calculation

The National Bank of Hungary (MNB) will allow lenders to include FX funding in the calculation of the Mortgage Funding...

Trade

Slovakia trade balance swings to deficit in Apr

Slovakia's trade balance showed a deficit of EUR 503.3 million in April versus a surplus of EUR 132.6 million in...

Ratings

Fitch affirms Erste Bank Hungary ‘BBB+’ rating; outlook stable

Fitch Ratings on Friday said it affirmed Erste Bank Hungary's 'BBB+' long-term issuer default rating with a stable outlook, according...

MNB

MNB: Key inflation indicators climb over 12%

The National Bank of Hungary (MNB) said the increase in headline inflation was mainly driven by higher prices for core...

Debt

Hungary issues USD 3 bln, EUR 750 mln FX bonds

Hungary has issued USD 3 billion and EUR 750 mln of FX bonds, Finance Minister Mihály Varga said in a...

Ratings

Fitch changes MOL outlook to negative

Fitch Ratings on Wednesday affirmed Hungarian oil and gas company MOL's 'BBB-' credit rating but revised its outlook to negative...

MNB

MNB weighs measures to expand use of instant payment systems

The National Bank of Hungary (MNB) outlined measures it is considering taking to expand the use of the instant electronic...

Trade

Deficit on external trade in goods at EUR 475 million in April

Hungary's deficit on external trade in goods stood at EUR 475 million in April 2022, according to data published by...

Banking

OTP to pay HUF 78.3 bln windfall tax in 2022

OTP Bank, Hungary's biggest commercial lender, will pay HUF 78.3 billion this year on a tax on "extra profit" the...

MNB

MNB int’l reserves fall EUR 253 mln in May

International reserves of the National Bank of Hungary (MNB) stood at EUR 34.059 billion at the end of May, EUR...

Banking

Lenders voice opposition to windfall tax

The Hungarian Banking Association warned that burdening the sector with a windfall tax could reduce lending activity in a statement...

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...