Finance

Ratings

Fitch Warns Against Impact of State Intervention in Banking Sector

Fitch Ratings warned that a windfall profit tax, interest rate caps, and a higher transactions duty threshold could "amplify" high...

Banking

Number of Bank Branches Shrinking

The branch network of domestic credit institutions continues to shrink, writes business daily Világgazdaság....

Banking

Erste Bank Hungary Closes Acquisition of Commerzbank Unit

Austrian-owned Erste Bank Hungary closed the acquisition of a 100+ stake in Commerzbank's local corporate banking subsidiary Commerzbank Zrt, the...

Trade

Czech Trade Deficit Increases in October

According to data from the Czech Statistical Office, the country's trade deficit widened to CZK 26.8 billion (EUR 1.1 billion)...

Banking

Garantiqa Marks 30th Anniversary

Garantiqa Hitelgarancia, a guarantor controlled by the state of Hungary, has officially marked its 30th anniversary, according to portfolio.hu....

Debt

General Gov’t Deficit at HUF 3.4 tln

Hungary's cash flow-based general government deficit, excluding local councils, had a HUF 3.466 trillion deficit at the end of November,...

Banking

Lawmakers Approve No-fee Cashback Service

MPs on Wednesday voted to give banking clients the chance to avail of cashback service, free of charge, up to...

MNB

MNB Int’l Reserves Rise EUR 633 mln in November

International reserves of the National Bank of Hungary (MNB) stood at EUR 37.517 billion at the end of November, up...

Banking

Magyar Bankholding Joins UN Environment Program Finance Initiative

Magyar Bankholding has joined the global cooperation established by the United Nations and was among the first Hungarian banks to...

Ratings

Scope Affirms OTP BBB+ Issuer Rating, Changes Outlook to Negative

Scope Ratings on Tuesday affirmed the BBB+ issuer rating of OTP Bank, Hungary's biggest commercial lender, but changed the outlook...

Debt

ÁKK Auctions off HUF 34.5 bln of 3-month T-bills

The Government Debt Management Agency (ÁKK) sold HUF 34.5 billion of discount three-month T-bills at auction on Tuesday, HUF 9.5...

Banking

Gov’t Extends Interest Rate Freeze to Student Loans

Hungary's government has decided to extend an interest rate freeze to free-purpose student loans, keeping the rate for the credit...

Banking

Banking Sector Earnings Fall 12% in Q1-Q3

Combined after-tax profit of Hungarian banks fell 12.4% year-on-year to HUF 562 billion in Q1-Q3 as write-downs and provisions weighed,...

Trade

Deficit of External Trade in Goods at EUR 745 mln in Sep

Hungary's deficit of the external trade in goods was EUR 745 million in September, according to data published by the...

Banking

Insurers’ Premiums Revenue Climbs 10% in Q1-Q3

Hungarian insurers' revenue from premiums rose 10.2% year-on-year to HUF 1.104 trillion in Q1-Q3, data released by the National Bank...

Ratings

Fitch Warns Against Impact of State Intervention in Banking Sector

Fitch Ratings warned that a windfall profit tax, interest rate caps, and a higher transactions duty threshold could "amplify" high...

Banking

Number of Bank Branches Shrinking

The branch network of domestic credit institutions continues to shrink, writes business daily Világgazdaság....

Banking

Erste Bank Hungary Closes Acquisition of Commerzbank Unit

Austrian-owned Erste Bank Hungary closed the acquisition of a 100+ stake in Commerzbank's local corporate banking subsidiary Commerzbank Zrt, the...

Trade

Czech Trade Deficit Increases in October

According to data from the Czech Statistical Office, the country's trade deficit widened to CZK 26.8 billion (EUR 1.1 billion)...

Banking

Garantiqa Marks 30th Anniversary

Garantiqa Hitelgarancia, a guarantor controlled by the state of Hungary, has officially marked its 30th anniversary, according to portfolio.hu....

Debt

General Gov’t Deficit at HUF 3.4 tln

Hungary's cash flow-based general government deficit, excluding local councils, had a HUF 3.466 trillion deficit at the end of November,...

Banking

Lawmakers Approve No-fee Cashback Service

MPs on Wednesday voted to give banking clients the chance to avail of cashback service, free of charge, up to...

MNB

MNB Int’l Reserves Rise EUR 633 mln in November

International reserves of the National Bank of Hungary (MNB) stood at EUR 37.517 billion at the end of November, up...

Banking

Magyar Bankholding Joins UN Environment Program Finance Initiative

Magyar Bankholding has joined the global cooperation established by the United Nations and was among the first Hungarian banks to...

Ratings

Scope Affirms OTP BBB+ Issuer Rating, Changes Outlook to Negative

Scope Ratings on Tuesday affirmed the BBB+ issuer rating of OTP Bank, Hungary's biggest commercial lender, but changed the outlook...

Debt

ÁKK Auctions off HUF 34.5 bln of 3-month T-bills

The Government Debt Management Agency (ÁKK) sold HUF 34.5 billion of discount three-month T-bills at auction on Tuesday, HUF 9.5...

Banking

Gov’t Extends Interest Rate Freeze to Student Loans

Hungary's government has decided to extend an interest rate freeze to free-purpose student loans, keeping the rate for the credit...

Banking

Banking Sector Earnings Fall 12% in Q1-Q3

Combined after-tax profit of Hungarian banks fell 12.4% year-on-year to HUF 562 billion in Q1-Q3 as write-downs and provisions weighed,...

Trade

Deficit of External Trade in Goods at EUR 745 mln in Sep

Hungary's deficit of the external trade in goods was EUR 745 million in September, according to data published by the...

Banking

Insurers’ Premiums Revenue Climbs 10% in Q1-Q3

Hungarian insurers' revenue from premiums rose 10.2% year-on-year to HUF 1.104 trillion in Q1-Q3, data released by the National Bank...

Fitch Warns Against Impact of State Intervention in Banking Sector

Fitch Ratings warned that a windfall profit tax, interest rate caps, and a higher transactions duty threshold could "amplify" high...

Number of Bank Branches Shrinking

The branch network of domestic credit institutions continues to shrink, writes business daily Világgazdaság....

Erste Bank Hungary Closes Acquisition of Commerzbank Unit

Austrian-owned Erste Bank Hungary closed the acquisition of a 100+ stake in Commerzbank's local corporate banking subsidiary Commerzbank Zrt, the...

Czech Trade Deficit Increases in October

According to data from the Czech Statistical Office, the country's trade deficit widened to CZK 26.8 billion (EUR 1.1 billion)...

Garantiqa Marks 30th Anniversary

Garantiqa Hitelgarancia, a guarantor controlled by the state of Hungary, has officially marked its 30th anniversary, according to portfolio.hu....

General Gov’t Deficit at HUF 3.4 tln

Hungary's cash flow-based general government deficit, excluding local councils, had a HUF 3.466 trillion deficit at the end of November,...

Lawmakers Approve No-fee Cashback Service

MPs on Wednesday voted to give banking clients the chance to avail of cashback service, free of charge, up to...

MNB Int’l Reserves Rise EUR 633 mln in November

International reserves of the National Bank of Hungary (MNB) stood at EUR 37.517 billion at the end of November, up...

Magyar Bankholding Joins UN Environment Program Finance Initiative

Magyar Bankholding has joined the global cooperation established by the United Nations and was among the first Hungarian banks to...

Scope Affirms OTP BBB+ Issuer Rating, Changes Outlook to Negative

Scope Ratings on Tuesday affirmed the BBB+ issuer rating of OTP Bank, Hungary's biggest commercial lender, but changed the outlook...

ÁKK Auctions off HUF 34.5 bln of 3-month T-bills

The Government Debt Management Agency (ÁKK) sold HUF 34.5 billion of discount three-month T-bills at auction on Tuesday, HUF 9.5...

Gov’t Extends Interest Rate Freeze to Student Loans

Hungary's government has decided to extend an interest rate freeze to free-purpose student loans, keeping the rate for the credit...

Banking Sector Earnings Fall 12% in Q1-Q3

Combined after-tax profit of Hungarian banks fell 12.4% year-on-year to HUF 562 billion in Q1-Q3 as write-downs and provisions weighed,...

Deficit of External Trade in Goods at EUR 745 mln in Sep

Hungary's deficit of the external trade in goods was EUR 745 million in September, according to data published by the...

Insurers’ Premiums Revenue Climbs 10% in Q1-Q3

Hungarian insurers' revenue from premiums rose 10.2% year-on-year to HUF 1.104 trillion in Q1-Q3, data released by the National Bank...