Erste Bank Hungary posted a negative result after tax in the first quarter. One of the main reasons for this is that the National Deposit Insurance Fund ordered an extra payment of HUF 7.9 billion due to the liquidation of Sberbank. Erste closed the first quarter with a minus of HUF 908 million, the bank's […]
The European Investment Bank Group, consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), increased its investments in Hungary in 2021 and provided EUR 891 million to the local economy, a record volume of investment in the past five years. The EIB increased the volume of its operations in Hungary for […]
"OTP Group is supporting Ukraine using all means available to us. We are working under wartime conditions to keep the country's financial infrastructure, and thereby the economy as a whole, operational," the Group said in a statement this Friday. In addition to maintaining the operations of the Group's subsidiary in Ukraine, "we are contributing to […]
The Hungarian forint (HUF) weakened in 2021: by 1.3% against the euro (EUR), 9.3% against the American dollar (USD) and 6.0% against the Swiss franc (CHF). On December 31, the forint ended the year at 368.87 forints against the euro and 324.48 forints against the American dollar, while the Swiss franc stood at 355.55 forints. […]
The Hungarian Banking Association says was surprised to learn of the government decision about freezing retail mortgage interest rates for a six-month period from January announced this Wednesday. The Association issued a statement this Thursday stressing that the key role of the banking sector is to provide long-term, predictable and sustainable financing for the economy, […]
Funding from the European Investment Advisory Hub (EIAH) will enable Magyar Fejlesztési Bank (MFB) to support the preparation of investment projects in key sectors, such as information and communication technologies (ICT), the environment and resource efficiency. The European Investment Bank (EIB) — the bank of the European Union — and Magyar Fejlesztési Bank ('Hungarian Development […]
According to data by the National Bank of Hungary (MNB), the number and value of mobile payment transactions more than doubled between the second quarter of 2020 and the second quarter of 2021. The growing popularity of smartwatch payments could further boost the uptake of innovative solutions in Hungary. "We are always very happy to […]
The National Bank of Hungary (MNB) has published the notice setting out the technical conditions of the Green Mortgage Bond Purchase Programme and the Mortgage Bond Rollover Facility and has decided to fine-tune the collateral management framework by improving the conditions of green securities. In July 2021, The Monetary Council reviewed and approved the MNB’s […]
In recent years, partially state-owned Chinese banks established a presence in the Visegrád countries, mainly to aid Belt and Road projects, which started facing obstacles in recent years. In early 2020, the Hungarian National Bank has announced the registration of a new credit institution in the country, the local subsidiary of the China Construction Bank, […]
The National Bank of Hungary (MNB), the country's central bank, has organised a high-level conference on the occasion of the 30th anniversary of the establishment of the Visegrad Cooperation. Among the speakers of the conference, titled 'Gradual Transition into a Greener Economy – Challenges and opportunities', the bank welcomed the central bank governors and deputy […]
The Budapest Stock Exchange's share index, the BUX, closed at a new all-time high of 49,015.24 points on Monday, up 169.40 points or 0.35% . Turnover on the stock market was HUF 7.1 billion forints on Monday, with the leading shares gaining on Friday's close, with the exception of that of MOL. Lajos Török, senior […]
The shock-absorbing capacity of the Hungarian banking sector remains strong. In the second half of 2020, the sector’s capital position improved further, while banks’ liquidity continued to rise even from its previous high level, according to an analysis by the National Bank of Hungary (MNB). The banking system is characterised by a balanced funding structure […]
The Hungarian currency, the forint continued to strengthen on Tuesday, with the euro falling below HUF 350 on international currency markets. However, this position is still about 33% weaker than in the spring of 2010 when the Orbán government took power. The strengthening continued after the statement by Barnabás Virág, Vice Governor of the National […]
According to Colliers, a leading diversified professional services and investment management firm, Western European capital, particularly German and UK funds, was most active and responsible for ca. 50% of all volumes in Q1 2021 across the CEE region. According to Kevin Turpin, Regional Director of Research, CEE, “as the pandemic continues to impact on capital […]
