Are you sure?

MFB outlays set to rise 39% in 2018

The state-owned Hungarian Development Bank (MFB) expects outlays to grow 39% this year, according to the bankʼs Chairman-CEO Tamás Bernáth, Hungarian news agency MTI reported.

Outlays the bank finances itself are set to rise 36%, while EU-financed outlays climb 35%, Bernáth said.

MFBʼs guarantor, Garantiqa, expects its surety stock to increase 30% to HUF 720 billion this year, said CEO Éva Búza. That stock should double in the coming three years, she added.

Garantiqa has 40,000 contracts at present, and one-fifth are with SMEs.

MFB venture capital unit Hiventures has investments of HUF 14 bln in 220 businesses, accounting for 90% of the local venture capital market, said CEO Kornél Kisgergely.