Hungarian CFOs are responding to economic difficulties and skills shortages not only with short-term cost optimization, but also with long-term technological modernization. Last year, 57% of CFOs introduced cost-cutting measures, while 62% are planning automation and digitalization developments over the next three years. This is stated, among other things, in PwC's 7th Hungarian CFO Survey. […]
The financial wealth of Hungarian households grew by 13.9% in 2024, which is the fastest pace since the 2008 global financial crisis, according to Allianz's latest Global Wealth Report, as quoted by the economic portal penzcentrum.hu. According to Allianz's latest report, global household financial wealth grew by 8.7% in 2024, exceeding the 8.0% rate in […]
Following seven other countries in the region, Visa has launched its digital payment program in Hungary, which aims to support the digitization of Hungarian micro and small businesses already operating in e-commerce or intending to enter the market and make them more competitive, the global payment service provider told MTI on Tuesday. They explained that […]
Compared to spring data, the Hungarian population's ability to save has declined even further: nearly half of those surveyed are unable to set aside any of their monthly income, and one in ten respondents are living in debt, according to the July Barometer survey conducted by Ipsos Plc. on behalf of Provident Financial Ltd. among […]
Financial planning is still not part of everyday life for Hungarians, with older working-age people in particular losing faith in their ability to take control of their financial situation, according to an international survey covering nine countries commissioned by the mother company of Provident Financial Ltd., International Personal Finance (IPF). While young people are becoming […]
A growing number of Hungarians are facing a challenge to survive on their income, with 27% of the population unable to save at all. This trend is getting worse year by year, and Hungarians are not doing well in international comparisons among the countries participating in the research – this is revealed by the international […]
When they need a loan, Hungarians still turn primarily to family members for financial assistance, but compared to last year, there has been a change in that they are more willing to ask friends and colleagues than financial institutions and financial service providers, according to a representative survey of 1,000 people in nine countries commissioned […]
Provident Financial Ltd. and the Hungarian Interchurch Aid's ‘Invisible’ program's ‘Conscious Living Step by Step’ competition is making a tangible difference in the lives of three families through versatile educational, expert and financial assistance. The winning families received assistance that will enable them to start a new chapter in their lives in terms of financial […]
MBH Bank and the Hungarian Export Promotion Agency (HEPA) signed a cooperation agreement in May last year with the aim of coordinating their activities and clientele in order to provide even more effective support to Hungarian companies operating in export markets or just planning to appear there. The main objective of the agreement is to […]
According to the Provident Barometer, a recent representative survey commissioned by Provident, the working-age population between 18 and 35 years of age are regular savers, while the proportion of people in debt is highest among middle-aged people (36-50), and a significant proportion of those over 50 are barely making ends meet. Significant savings are the […]
The Hungarian banking system is still characterised by high profitability, abundant liquidity and a strong capital position, and consequently the sector’s shock resilience remains outstanding. Banks’ lending capacity is abundant, and no general credit supply constraints can be identified. In the past period, credit risks did not rise despite the prolonged dynamization of the real […]
Inflation remains the biggest risk, while cutting consumption is the most common crisis management tool, according to the Provident Barometer, a representative survey of the Hungarian population commissioned by Provident. The results of the research, which will now be conducted quarterly, also show that financial insecurity is associated with low levels of financial awareness, which […]
The financial situation of the Hungarian population is slowly improving, and with it the willingness to take out loans has also started to increase, according to data from a national survey commissioned by Provident Financial Ltd. Although demand for credit has fluctuated over the past few years, along with consumer confidence, both are currently on […]
The CIB Group's profit after tax increased by 14.1% to HUF 71.905 billion and its balance sheet total increased by 4.4% to HUF 3,463.21 billion in the financial year 2024, the banking group announced to MTI on Tuesday. According to the statement, the outstanding results provide a solid basis for CIB Group to significantly exceed […]
MBH Bank Plc. achieved outstanding financial results in 2024, with significant growth: its balance sheet total increased by 12.6% to HUF 12,504.7 billion, and its adjusted profit after tax remained stable at HUF 236 billion, Péter Krizsanovich, Deputy CEO of the bank responsible for strategy and finance, said at a press conference in Budapest on […]
