A third of grandparents have been forced to cut back on gift giving due to the need to save, while four in ten can only afford to save money for presents during the year, according to Provident's research into the Advent period. According to the responses, the relative majority of respondents can spend between HUF […]

Assets under management in investment funds increased by 1.9% to HUF 325 billion in October, meaning that at the end of the month members of the Association of Investment Fund Managers and Asset Managers in Hungary (Bamosz) managed HUF 17,214 billion in investment funds, the association has told MTI. Money market funds lost HUF 5 […]

Consolidated earnings at the Hungarian financial institution were HUF 826 billion profit after tax in January-September 2024 with an ROE of 24.9%; 3Q profit expanded by 19% q-o-q on the back of higher revenues and moderating impairments; 2% q-o-q organic increase in both performing loans and deposits, improving capital adequacy ratios. The Group’s cumulated profit […]

Repayment of outstanding loans is less of a problem than before, and reluctance to borrow has eased, according to a survey by Provident Financial Ltd.'s among its own customers. The data also shows that with their financial situation feeling more stable, more people are willing to spend on things such as health care, which was […]

The National Bank of Hungary (MNB) has re-launched its financial awareness campaign "Small things go a long way,” which encourages retail customers to achieve greater financial security by rethinking their everyday financial habits and training their savings, MNB told MTI on Monday. According to the statement, "money-sucking" items can be hidden in people's everyday spending, […]

The Cofidis Group has successfully completed the acquisition of Magyar Cetelem Bank Plc., the Hungarian subsidiary of BNP Paribas Personal Finance Group, Cofidis has announced. According to the statement, Cofidis Group has strengthened its position in the Hungarian market and the Central European region. Gilles Sauret, Chairman of the Board of Directors of the Cofidis […]

A consortium led by KDB Bank Europa Ltd., the Budapest-based subsidiary of South Korea-based KDB Bank, has provided EXIM Hungary with a EUR 120 million 3-year general financing loan, EXIM Hungary has told MTI. According to the statement, the fundraising negotiations with KDB Bank Europa Ltd. started in the fall of 2023, and in the […]

MBH Bank and the Hungarian Branch of Bank of China Limited have signed a Memorandum of Understanding to establish a long-term, stable and mutually beneficial business relationship, MBH told MTI on Thursday. The MoU aims to strengthen inter-bank activities, especially in the field of bilateral financing arrangements, and to promote trade in financial products through […]

The share capital of Magyar Export-Import Bank Plc. has been increased by HUF 15 billion by the holder of the company's ownership rights. The news has been announced on the website of the Budapest Stock Exchange. For the capital increase, the Minister of National Economy, who exercises all the ownership rights and obligations of the […]

The recent record high inflation rate has made Hungarians more financially aware, with more and more of them trying to plan their finances, according to Provident research. In fact, change is needed: Hungarians are still finding it difficult to navigate the world of financial products compared with their European counterparts. A recent survey by Provident […]

With a stable outlook, Moody's Investors Service has confirmed MBH Bank's recommended investment ratings: among other things, its long- and short-term bank deposit ratings, as well as its senior unsecured MTN program and senior unsecured debt ratings. Based on the analysis of the international rating agency, it was highlighted that the confirmation of the debtor […]

As of this Thursday, Nova KBM and SKB banka successfully completed the legal merger. With the merger of the two banks, a new banking group has been created in Slovenia - OTP Skupina Slovenija, which complements banking services with leasing and factoring services of the subsidiaries SKB Leasing, SKB Leasing Select and Aleja finance, the […]

60% of borrowers already provide for the amount needed for the start of school in June and July, which is indicated by the steady increase in the number of loan applications citing financial difficulties in starting school, while the number of those who finance the start of school with a loan has slightly decreased compared […]

Raiffeisen Bank Plc. closed the first half of this year with a consolidated after-tax profit of HUF 51.4 billion, which is 73% more than in the same period last year, the financial institution reported on the website of the Budapest Stock Exchange (BÉT). According to the company's business report, the main reason for the increase […]

Compared to recent years, the financial situation of Hungarians has improved in several respects: the number of those who have some money left at the end of the month has increased and the number of those who have no savings has decreased, according to a representative survey commissioned by Provident Financial Ltd.'s parent company International […]