Finance

Banking

OTP announces deal to set up Chinese JV

OTP Bank, Hungary's biggest commercial lender, on Friday said it agreed with partners to establish a consumer finance joint venture...

Banking

Write-downs weigh on banking sector profit in Q1 

After-tax profit of Hungary's banking sector fell 57% year-on-year to HUF 78 billion in the first quarter, dragged lower by...

MNB

MNB raises 1-week deposit rate 30 bp to 6.75%

The National Bank of Hungary (MNB) raised the rate for its one-week deposit facility by 30 bp to 6.75% ahead...

Banking

Households continue to make net withdrawals in April

Households withdrew net HUF 21 billion from their bank accounts in April, two months after a tax rebate for families...

Trade

EUR 1.418 bln Q1 surplus in trade of services

Hungary had a EUR 1.418 billion surplus in the trade of services in the first quarter, widening from EUR 867...

Banking

Policymakers raise base rate 50 bp to 5.9%

The Monetary Council of the National Bank of Hungary (MNB) decided to raise the central bank base rate by 50...

MNB

MNB announces June dates for FX swap tenders

The National Bank of Hungary (MNB) on Friday announced the June dates for FX swap tenders providing euro liquidity and...

Debt

Romania’s Jan-Apr cons budget gap narrows

Romania's consolidated budget was in deficit equivalent to 1.23% of the gross domestic product (GDP) at the end of April,...

Banking

Gránit Bank assets up 20% last year

Total assets of Gránit Bank rose 20%, close to HUF 700 billion, last year, chairman-CEO Éva Hegedüs said after the...

MNB

MNB: War rewrites macroeconomic outlook

The Russo-Ukrainian war has rewritten the outlook for the macroeconomy and the banking system, new risks have emerged in the...

MNB

EIB, MNB Agreement Unlocks More Options for Financing Long-term Green Projects

The European Investment Bank and the Magyar Nemzeti Bank (the National Bank of Hungary or MNB) have signed an agreement...

Banking

Romania’s annual bank deposits growth slows in Apr

The deposits of the non-governmental sector in Romanian banks grew 10.9% on the year to RON 480.6 billion (EUR 97.2...

Banking

MKB Q1 profit slips as integration costs rise

First-quarter after-tax profit of MKB Bank fell 12% year-on-year to HUF 23.5 billion as integration costs climbed, state news wire...

MNB

MNB dep-gov flags smaller rate rise at May policy meeting

The pace of the central bank's tightening cycle could be "halved", National Bank of Hungary (MNB) deputy-governor Barnabas Virág told...

Banking

Czech household deposits fell in March

For the first time in nearly five years, there has been a decrease in Czech household bank deposits, Czech Radio's...

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...