Moody's upgrades Hungarian banks' credit ratings
Photo by Daniel J. Macy / Shutterstock.com
Moody's Investors Service upgraded five Hungarian banks' credit ratings on Tuesday, according to a report by state news wire MTI.
Moody's said the ratings actions were prompted by the agency's change of Hungary's Macro Profile to "Moderate" from "Moderate-" as well as Moody's expectation of a strengthening of the banks' financial fundamentals, mainly a recovery of their profitability in 2021 on the back of sizeable growth opportunities in the domestic economy and resilience of their asset quality.
The agency upgraded Budapest Bank's and MKB Bank's long-term deposit ratings to "Ba1" from "Ba2" with the positive outlook maintained.
It upgraded Raiffeisen Bank Hungary's long-term deposit rating to "Baa1" from "Baa2" with the stable outlook maintained and affirmed K&H Bank's and Erste Bank Hungary's "Baa1" long-term deposit ratings, also with the stable outlook maintained.
Lenders' Home Loan Outlays at HUF 344 bln in H2 2023
Gov't Awards HUF 6.5 bln of Subsidies to SMEs in Underdevelo...
Hungary's Largest ESG Consultancy Formed by Merger of EY, De...
Hungary Launches HUF 15 bln Tourism Sector Support Program
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.
