Finance

MNB

MNB international reserves fall EUR 714 mln in October

International reserves of the National Bank of Hungary (MNB) stood at EUR 37.56 bln at the end of October, down...

Banking

Czech central bank hikes key rate again

The Czech central bank raised its key interest rate further and the increase was more than expected, citing the outlook...

Banking

Lenders’ stock of baby support loans at HUF 1.462 tln

Hungarian lenders' stock of prenatal baby support loans stood at HUF 1.462 trillion at the end of September, up HUF...

Banking

Polish c. bank raises interest rate as prices surge 

The National Bank of Poland raised its benchmark reference rate by 75 basis points to 1.25% on Wednesday. It was...

Banking

OTP signs UN Principles for Responsible Banking

OTP Bank on Friday said it became the first Hungarian lender to sign the UN Principles for Responsible Banking, a...

Banking

Romanians save on average EUR 58 monthly

Romanians save on average RON 309 per month (some EUR 58) on an average, net salary of RON 3,541 (a...

Banking

Sberbank Europe to part with Hungarian unit

Russian-owned Sberbank Europe on Wednesday said it agreed to sell a number of its businesses in Central and Eastern Europe...

MNB

Rate-setters ditch baseline inflation scenario

Members of the Monetary Council of the National Bank of Hungary (MNB) agreed that the inflation path had shifted from...

Trade

Export growth slows in August

Hungary's export growth slowed further in August as shutdowns because of supply chain interruptions caused the output of the automotive...

MNB

MNB buys HUF 37 bln in gov’t QE securities

The National Bank of Hungary (MNB) bought HUF 37 billion of government securities under its quantitative easing program in the...

Banking

Romanian c. bank FX reserves fall in Oct

The foreign exchange (FX) reserves held by Romania's central bank, excluding gold, totaled EUR 39.843 billion at the end of...

Banking

Erste Group books EUR 120 mln net profit in Q1-Q3

Erste Group, including Erste Bank Hungary, had EUR 120 million net profit in Hungary in January-September 2021, up from EUR...

Banking

Takarékbank clients ask for HUF 5 bln under Green Home Program

Clients of Takarékbank have submitted applications for HUF 5 billion of mortgage loans in the framework of the Green Home...

MNB

Growth Prospects Look Good, Despite Some Dark Clouds

It is a “realistic expectation” that Hungary’s economy could grow by 5-6% in 2022, Minister of Finance Mihály Varga told...

Banking

2% of Magyar Bankholding clients remain in repayment moratorium

Around 2% of the retail and corporate clients of Magyar Bankholding's members, Budapest Bank, MKB Bank, and Takarékbank, have opted...

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...