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 […]

More than 130 individuals participated in the financial awareness and self-sufficiency training program organized by Provident Financial Ltd. and the Hungarian Interchurch Aid. This initiative marks the first year of a partnership aimed at enhancing the financial literacy of disadvantaged groups and promoting self-sufficiency among affected families. Building on the success of the past year, […]

Hungarian banks have disbursed almost HUF 880 billion in loans through the Green Capital Requirement Relief Program of the National Bank of Hungary (MNB), according to the aggregate amount disbursed by the end of 2023. The head of MNB's Sustainable Finance Department, Norbert Holczinger said at a press event in Budapest on Wednesday said that […]

CIB Group closed the 2023 financial year with record profits, with profit after tax reaching HUF 63.9 billion, up nearly 80% year-on-year, the financial institution told MTI on Tuesday. As the statement highlights, CIB Group's net operating income amounted to HUF 169.6 billion, up from HUF 135.6 billion in the previous year, while profit before […]

The first green bond issue by the Hungarian Development Bank (MFB) was met with keen interest: the auction on the Budapest Stock Exchange raised almost HUF 11 billion in funds, which will help finance green investment by businesses, the bank told MTI on Monday. They said that MFB raised a total of HUF 10.8 billion […]

OTP Bank's consolidated adjusted profit after tax for the last quarter of last year was HUF 229.987 billion, exceeding the average expectations, closing the year at HUF 1,008.583 billion, according to a release published on the website of the Budapest Stock Exchange (BSE) on Friday morning. Based on a summary of unaudited individual and consolidated […]

Viktor Boczán took over the position of Country Manager / CEO of Provident Financial Ltd. as of March 1, as his predecessor, Botond Szirmák will continue his career as the European CEO of the company, the company announced on Tuesday. The statement added that under the leadership of Botond Szirmák for 16 years, Provident Financial […]

Global tax reforms are significantly changing the terms of transfer pricing, with companies most concerned about double taxation and inflation affecting the pricing of related party transactions in the long term, according to an Ernst & Young (EY) survey of large corporate executives in more than 40 countries, including Hungary. The international financial advisory firm […]