Finance

Debt

State debt ratio target achievable – State Audit Office

The state debt ratio targeted for this year is achievable based on the data available by November so the debt...

MNB

National Bank’s Inflation Battle Continues Apace

The National Bank of Hungary (MNB) is continuing its fight against rising inflation expectations by maintaining its tightening cycle and...

Banking

Banking assoc doesn’t support mortgage rate freeze

The Hungarian Banking Association on Thursday said it does not support a temporary government freeze of mortgage loan interest rates,...

MNB

MNB raises 1-week depo rate by 20 bp to 3.8%

The National Bank of Hungary (MNB) announced a rate of 3.8% for its one-week deposit facility ahead of a tender...

MNB

MNB buys HUF 10 bln of gov’t bonds in last week of QE program

The National Bank of Hungary (MNB) bought HUF 10 billion of government securities in the last week of a quantitative...

Banking

OTP Bank closes int’l bond transactions successfully

OTP participated in two successful international bond transactions in November. As part of a syndicate of dominant investment banks in...

Debt

Slovenia c/a surplus shrinks in Jan-Oct

Slovenia's current account surplus fell to EUR 1.9 billion in the first ten months of 2021, from EUR 3 billion...

Trade

HEPA starting ‘Fit for Export’ program

The Hungarian Export Promotion Agency (HEPA) will start its "Fit for Export" program, helping micro-, small- and medium-sized enterprises to...

MNB

MNB signs cooperation deal with Budapest, Warsaw bourses

The National Bank of Hungary (MNB) has signed a cooperation agreement with the Budapest Stock Exchange and the Warsaw Stock...

Debt

ÁKK publishes 2022 financing plan

Hungary will issue net HUF 2.663 trillion of government securities next year to cover a HUF 3.153 tln central budget...

Banking

Erste Bank Hungary acquires Commerzbank Zrt

Erste Bank Hungary has agreed to acquire 100% of Commerzbank's local corporate banking subsidiary Commerzbank Zrt, Austria's Erste Group said...

Debt

Varga cuts 2022 deficit target to 4.9% of GDP

Finance Minister Mihály Varga on Friday said next year's general government deficit target can be reduced to 4.9% of GDP...

Trade

Railway JV aims to increase trade with China

Hungarian-owned CER Cargo Holding SE, Russian-owned RZDL Europe Kft., and the Hungarian unit of Austria's Rail Cargo Group, Rail Cargo...

MNB

MNB likely to allow lenders to pay dividend from January

The National Bank of Hungary will "most likely" allow lenders to start paying dividend again from January, deputy-governor Csaba Kandrács...

Ratings

Moody’s upgrades Budapest Bank, MKB Bank deposit ratings

Moody's Investors Service on Thursday said it upgraded the long-term local and foreign currency deposit ratings of Budapest Bank and...

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...