Finance

Debt

Poland pays for lockdowns with the highest ever public debt

The actual debt of the Polish sector of the general government is approaching the impassable – according to the constitution...

MNB

MNB offers 1-week depo at 2.5%, 40 bp over base rate

The National Bank of Hungary (MNB) offered its one-week deposit facility at a rate of 2.5% at a tender on...

MNB

MNB to modify debt cap rules from January

The National Bank of Hungary said on Wednesday that on January 1, 2022 it will be modifying its decree regarding...

Banking

Serbian c. bank’s FX reserves decline in October

The foreign exchange (FX) reserves held by Serbia's central bank fell to EUR 16.3 billion at the end of October,...

Debt

ÁKK switches HUF 27.5 bln of bonds at auction

Hungary's State Debt Management Agency (ÁKK) sold HUF 27.5 billion of bonds maturing in 2029, 2030, and 2034 in exchange...

Debt

Romania c/a gap widens in September

Romania's current account deficit widened to EUR 1.65 billion in September of 2021, from EUR 1.29 billion in the same...

Debt

MNB: EUR 1.695 bln Q3 C/A deficit

Hungary had a current-account deficit of EUR 1.695 billion in the third quarter, according to an amalgamation of monthly data...

Banking

More than 11,000 businesses take out recovery microloans

More than 11,000 businesses have taken out interest-free microloans the government launched in the spring to aid the economic recovery,...

Debt

Poland c/a swings to deficit in September

Poland's current account posted a EUR 1.339 billion deficit in September, switching from a downwardly revised EUR 1.417 bln surplus...

Ratings

Fitch upgrades Croatia to ‘BBB’, outlook positive

Fitch Ratings said it has upgraded Croatia's long-term foreign-currency issuer default rating (IDR) to 'BBB' from 'BBB-, with positive outlook...

MNB

Policymakers raise base rate 30 bp to 2.1%

The Monetary Council of the National Bank of Hungary (MNB) decided to raise the central bank base rate by 30...

Trade

Bulgaria’s trade gap widens in September

Bulgaria's trade deficit narrowed to BGN 614.4 million (EUR 314.1 million) in September from BGN 476.1 million in the corresponding...

Banking

Budapest Bank, MKB to merge next spring

According to the plans of Hungarian Bankholding, Budapest Bank, and MKB Bank, the two member banks of the banking group...

MNB

Weekly QE purchases of gov’t bonds below target

The National Bank of Hungary (MNB) bought HUF 32 billion of government securities in the framework of a quantitative easing...

MNB

No bids at FX swaps tender

Lenders submitted no bids at a weekly tender held by the National Bank of Hungary (MNB) on Monday for FX...

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...