Finance

Banking

CIG Pannónia, Hungarian Bankholding sign 20-year strategic coop deal

CIG Pannónia Group has signed a 20-year strategic cooperation framework agreement with Hungarian Bankholding member banks, MKB Bank Nyrt., Takarékbank...

MNB

Policymakers raise base rate 50 bp to 3.4%

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

Debt

Bulgaria c/a gap widens in December

Bulgaria's current account gap widened to EUR 631.2 million in December 2021, from EUR 153.6 million in the same month...

Banking

Magyar Bankholding picks Thought Machine as digital banking partner

Magyar Bankholding Group has chosen the London-based Thought Machine as its partner to launch its new digital banking world, becoming...

Trade

Albania’s trade gap narrows in Jan

Albania's trade deficit shrank by 7.7% year-on-year in January, to ALL 20 billion (EUR 164.8 million), the statistics office said...

Banking

The Fragility of the European Banking System

It is often unappreciated that Europe escaped the 1929 depression that began in the United States until the 1931 collapse...

Debt

Hungary year-end state debt ratio falls to 78.2%

Hungary's state debt relative to GDP fell to 78.2% at the end of the fourth quarter, state news wire MTI...

Banking

Hungary leasing market expands 14% in 2021

New lease contract value rose 14% to HUF 726 billion last year, the head of the Hungarian Leasing Association said...

Debt

ÁKK sells HUF 86 bln of securities at auction

The Government Debt Management Agency (ÁKK) sold HUF 86 billion of securities at auction on Thursday, HUF 16 bln more...

Banking

Moldova hikes key rate to 10.5%

The National Bank of Moldova raised its benchmark interest rate by 200 basis points to 10.5% on Tuesday to curb...

Banking

K&H Bank earnings climb 78% in 2021

The after-tax profit of K&H Bank, a unit of Belgium's KBC, rose 78% to HUF 75 billion last year, CEO...

Banking

EBRD supports steel industry decarbonization in Slovenia

The European Bank for Reconstruction and Development is participating in Slovenian Steel Group's (SIJ Group) EUR 230 million long-term debt...

Debt

Poland c/a deficit at record high

Poland's current account shifted to a EUR 3.975 billion deficit in December of 2021 from a EUR 751 million surplus...

MNB

March dates announced for FX swap tenders

The National Bank of Hungary (MNB) yesterday announced dates for FX swap tenders providing euro liquidity and a discount bill...

Banking

Serbian c. bank’s FX reserves fall in Jan

The foreign exchange (FX) reserves held by Serbia's central bank amounted to EUR 16.11 billion at the end of January,...

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...