"On the basis of the information currently available, there is an equal number of arguments in favor of cutting interest rates by 75 basis points or 100 basis points at the end-January policy meeting," Deputy Governor of the National Bank of Hungary (MNB), Barnabás Virág said at a Euromoney conference in Vienna. The Deputy Governor […]
Both voluntary and private pension funds in Hungary ended 2023 with returns well above inflation. According to calculations by the financial website enpenzem.hu, the vast majority of pension funds grew by 20% or more in 2023, making up for losses in 2022. The National Bank of Hungary (MNB) expects annual average inflation to be around […]
OTP Bank Plc. has announced on the website of the Budapest Stock Exchange that the Metropolitan Court of Registration has registered a capital increase at Merkantil Bank Plc. Accordingly, the registered capital of Merkantil Bank Plc. was increased to HUF 3,000,000,000 from HUF 2,000,000,000. Merkantil Bank started its operations in 1988 as a subsidiary bank […]
Erste Group Bank AG has repurchased EBRD's 15% stake in Erste Bank Hungary (EBH), making it the sole 100% shareholder of Erste Bank Hungary. In mid-November, it was announced that the European Bank for Reconstruction and Development (EBRD) would also return its 15% stake in Erste Group's Hungarian subsidiary to the Austrian banking group. The […]
The National Bank of Hungary (MNB) has issued a recommendation to Hungarian-based insurers on climate change and environmental risks and on how to integrate environmental sustainability considerations into their operations. The recommendation is aimed at helping insurers to take environmental factors into account and to help them to make the transition to sustainable operations and […]
At the end of 2023 Q3, the credit institution sector consisted of ten banking groups, eight solo credit institutions, two financial enterprises subject to prudential regulation affecting credit institutions, as well as nine branches. The decrease in the number of institutions included in the publication was caused by the consolidation of a single domestic credit […]
The Hungarian banking system remains stable and its resilience to shocks is strong. Profitability is remarkably high, with interest income on central bank deposits as a significant contributing factor, the National Bank of Hungary (MNB) says in a statement on its website. Deposits by households and non-bank financial institutions in the banking system declined, although […]
The Hungarian Development Bank (MFB) and the European Investment Bank (EIB) signed a financing agreement in Luxembourg on supporting projects aimed at increasing energy efficiency and the use of renewable energy sources, i.e. supporting the green transition, MFB announced on Wednesday. The EUR 100 million EIB loan will enable MFB to provide a wide range […]
The first ever Euro-based share issuance on the Budapest Stock Exchange (BSE) has successfully been concluded. Through an initial public offering (IPO), Shopper Park Plus raised a total of 37.2 million Euros in capital, placing its shares into the BSE Premium Category, the stock exchange website reports. Shopper Park Plus manages a significant retail real […]
Erste Group Bank AG is buying back the 15 % share of its Hungarian subsidiary, Erste Bank Hungary Plc. (EBH), currently held by the Hungarian state-owned Corvinus International Investments Plc, EBH has announced on the website of the Budapest Stock Exchange. The transaction, which is set to close in November, values that stake at HUF […]
Poland's PKO Bank plans to open a representative office in Hungary and next year will start operations as a branch in Romania, the announcement of the CEO of the financial institution, Dariusz Szwed, has been quoted by the financial website portfolio.hu He stressed that the bank currently provides cross-border services on the Romanian market. He […]
The energy crisis and the resulting dramatic increase in energy prices have underscored the importance of energy efficiency over the past year, Deputy Governor of the National Bank of Hungary (MNB), Csaba Kandrács said this Thursday at MNB’s International Green Finance Conference. It featured presentations by representatives of the European Commission and the International Energy […]
Investors submitted offers worth HUF 27.5 billion in UniCredit Jelzálogbank Plc.'s third green mortgage bond issue, of which the bank accepted HUF 20 billion in the originally offered amount, almost half of which was subscribed by commercial banks, the company told MTI on Wednesday. According to the information, the bank's fixed-rate 5.5-year UCJBF 2029/A series […]
Pension funds continue to offer one of the most competitive schemes compared to other self-care offers, according to a recent summary by the National Bank of Hungary (MNB). The central bank said on Tuesday that the classical premium burden index, which retrospectively expresses the costs of voluntary pension funds, was 0.72% in 2022, up from […]
Assets under management in investment funds increased in Hungary by 3.2%, or HUF 382 billion, to HUF 12,296 billion in August, the Association of Investment Fund Managers and Asset Managers of Hungary (BAMOSZ) told MTI on Monday. The statement highlighted that the resulting capital flows in investment funds last month showed a plus of HUF […]
