Fitch affirms MFB, Magyar Eximbank ratings with stable outlook


Photo by Konektus Photo /

Fitch Ratings on Wednesday affirmed the "BBB" ratings of the state-owned Hungarian Development Bank (MFB) and Magyar Eximbank with stable outlooks, according to a report by state news wire MTI.

Photo by Konektus Photo /

The ratings "reflect Fitchʼs view of a high probability of extraordinary support for both banks from the Hungarian state", the rating agency said.

Fitch affirmed Hungaryʼs "BBB" sovereign rating with a stable outlook at a scheduled review in August.

State funding allocations and guarantees for the banks stand at HUF 3.6 trillion, equivalent to about 8% of Hungaryʼs forecast 2020 GDP, which Fitch called a "potentially significant contingent liability for the state". But it added that the guarantees at the banks have never been exercised and risks at both lenders "have been well-managed".


Lawmakers Approve No-fee Cashback Service Banking

Lawmakers Approve No-fee Cashback Service

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

New Home Prices Edge up 3% Residential

New Home Prices Edge up 3%

Tourism Nights Down 0.2% y.o.y. in October Tourism

Tourism Nights Down 0.2% y.o.y. in October


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.