Finance

Banking

Ukraine Crisis: OTP still serving customers in Ukraine

OTP Bank has told the Budapest Business Journal it is still serving customers in Ukraine where it can do so...

Banking

Romanian c. bank FX reserves fall in Feb

The foreign exchange (FX) reserves held by Romania's central bank, excluding gold, fell to EUR 41.877 billion at the end...

Banking

Households make net withdrawals from bank deposits in Jan

Households made net withdrawals of HUF 166 billion from bank deposits in January, state news wire MTI reports citing data...

MNB

MNB raises 1-week depo rate by 75 bp to 5.35%

The National Bank of Hungary (MNB) raised the rate for its one-week deposit facility by 75 bp to 5.35% ahead...

Trade

Ukraine Crisis: Gedeon Richter suspends marketing activities in Ukraine

Hungarian blue-chip pharma firm Gedeon Richter has told the Budapest Business Journal that it has suspended marketing activities in Ukraine....

Trade

Montenegro trade gap widens in January

Montenegro's trade deficit expanded by 2.1% to EUR 80.1 million in January, the country's statistical office said on Monday....

Trade

External trade in services surplus at EUR 1.421 bln in Q4 2021

In the fourth quarter of 2021, service exports calculated in EUR increased by 22%, imports by 18% compared to the...

Banking

MNB withdraws Sberbank Magyarország license

The National Bank of Hungary (MNB) said it withdrew the lending license of Russian-owned Sberbank Magyarország because of its "serious...

Banking

MNB caps client withdrawals at Sberbank Magyarország

The National Bank of Hungary (MNB) on Tuesday said it is limiting the amount of repayable funds by Sberbank Magyarorszag...

Banking

2-day bank holiday ordered for Sberbank Magyarország

The National Bank of Hungary (MNB) on Monday said it ordered a two-day bank holiday at Sberbank Magyarország after the...

Banking

60% of Hungarians use bank cards daily

Some 58% of Hungarian banking customers use their card daily for in-store payments, and 72% of those surveyed pay this...

Debt

ÁKK sells HUF 35 bln of bonds at auction, under plan

The Government Debt Management Agency (ÁKK) sold HUF 35 billion of bonds at auction on Thursday, HUF 20 bln under...

Banking

Romania annual bank deposits growth in Jan

The deposits of the non-governmental sector in Romanian banks grew 13.5% on the year to RON 479 billion (EUR 97...

MNB

MNB raises 1-week depo rate by 30 bp to 4.6%

The National Bank of Hungary (MNB) raised the rate for its one-week deposit facility by 30 bp to 4.6% ahead...

Debt

Fin Min confirms HUF 151.3 bln gov’t surplus

Hungary's cash flow-based government budget, excluding local councils, had a HUF 151.3 billion surplus at the end of January, the...

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...