Erste Bank Hungary Plc. closed last year with an improved profit profile, mainly due to the growth in the number of active customers and assets under management. Loan and bond volumes rose again in 2024, with new lending in retail loans up one and a half times, while corporate lending was 9% down on a […]
The Hungarian energy services firm ALTEO’s revenue in 2024 increased by 7% compared to the highly successful 2023 financial year, and its EBITDA reached HUF 19.7 billion, slightly higher than a year earlier, the company has announced on the website of the Budapest Stock Exchange (BSE). The results achieved by the company, listed in the Prime […]
iBanFirst, the leading global provider of foreign exchange and international payments, achieved 137% growth in transaction volumes in Hungary last year, with outgoing payments reaching EUR 1.5 billion, making Hungary the fastest growing market in the Central and Eastern European region, the company told MTI on Friday. iBanFirst received its operating licence from the National […]
Japanese instant noodle giant Nissin Foods is expanding its operations in Kecskemét with a new production facility, the Hungarian Investment Promotion Agency reports. The Tokyo-based company, manufacturing products of iconic brands, such as Smack and Soba, is investing approximately EUR 100 million to establish its second factory in Hungary. The development will take place on […]
Market Group's two real estate development subsidiaries, Market Asset Management and Property Market, won three prestigious awards at the 15th Real Estate Awards gala, the real estate group informed MTI on Friday. The BEM Center office building was named Commercial Development of the Year and Greenest Project of the Year, while the Kimpton BEM Budapest […]
Budapest-based pharmaceutical giant Gedeon Richter Plc. announced its Q4/FY 2024 financial results at the website of the Budapest Stock Exchange by stating that 2024 was an active year with business development across all segments, aimed at providing access to health by bringing solutions to unmet needs and by offering affordable medicines to a wide range […]
The AutoWallis Group increased its sales to HUF 398.46 billion last year, which is 9% higher than the previous year, while EBITDA (earnings before interest, tax, depreciation and amortization) rose by 2% to HUF 20.175 billion, the company told MTI on Friday. Net profit fell to HUF 6.976 billion from HUF 9.842 billion in the […]
Hungary is further strengthening its position in the automotive industry as the Japanese Alpine announced a new investment worth nearly EUR 55 million at its Biatorbágy site, just west of Budapest, creating 100 new jobs, contributing to the long-term growth of the Hungarian economy, and promoting industrial innovation, according to the Hungarian Investment Promotion Agency […]
Budapest-based GANZ Switch and Device Manufacturing Ltd. (GANZ KK) and the University of Dunaújváros have developed an automated, robotic and remote-controlled system for group charging of e-cars, GANZ KK told MTI. The project, which is a significant innovation on an international level, received HUF 796 million in funding from the National Research Development and Innovation […]
The oil and gas group Group MOL has disclosed its financial results for the full year as well as the fourth quarter of 2024. The normalization continued in the industry, which led to 23% decrease in profit before tax in 2024. Full-year 2024 organic investments increased by 16%, primarily due to higher sustaintype CAPEX in […]
German industrial equipment manufacturer heavyweight Harro Höfliger is set to produce custom machines used in medical technology and the pharmaceutical industry at its new plant in Debrecen, E Hungary, built in an investment project of EUR 14 million, the Hungarian Investment Promotion Agency (HIPA) reports. Founded 50 years ago, Harro Höfliger acquired the Hungarian operations […]
German industry giant Bosch has completed a nearly 100,000-square-meter logistics and warehouse center in Miskolc, NE Hungary. The EUR 150 million investment will supply 26 countries with a wide range of Bosch products, the Hungarian Investment Promotion Agency (HIPA) reports. Located on the site of a former municipal airport, the significance of the investment extends […]
OTP Bank has opened a mobile branch in Polgár, Hajdú-Bihar County, offering the same services as traditional cashless branches, the bank told MTI on Thursday. The bank decided to launch a mobile branch in another settlement due to the positive experience so far, they said. Although more and more people are settling simple transactions via […]
The nineteenth edition of Hungary’s most prestigious banking sector competition, the 'Mastercard – Bank of the Year', has concluded. This year, the competition was revamped, with the nine award categories grouped into three main segments: in Daily Banking, OTP Bank delivered the most outstanding performance; in Innovation, K&H Bank took the lead; and in the […]
2024 has been a very eventful and professionally successful year for the Hungarian packaging firm Sz.Variáns, as János Szakál, the company's managing owner, was nominated for the Ernst & Young "Businessman of the Year" award. In addition, the company has received a number of prestigious awards over the past year, including the Store Insider Award, […]
