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Future of Finance in Hungary

Oct 23, 2020

The coronavirus pandemic has proven that it is time to retire unwieldy, passé business models that are not cutting it anymore in the financial sector. As economic uncertainties take center stage the world over, Hungary’s financial managers place their hope in automation and digitalization to weather the storm. The challenges and expectations of financial managers […]

Central Bank to Support Green Finances

Sándor Laczkó
Aug 4, 2020

By implementing its Green Program, the National Bank of Hungary (MNB) wishes to contribute to reducing risks related to climate change and other environmental issues and to raising the volume of green market financing in Hungary. Following the measures already taken in the banking sector, the Bank says it will start introducing green finances in […]

International Investment Bank Sees Massive Rise in Loans

Nov 26, 2019

Russia’s International Investment Bank, which relocated its headquarters to Budapest in April, expects its loan portfolio to exceed EUR 1 billion by the end of the year, executives of the bank said at a press conference. The bank’s loan portfolio expanded by 11% in the six months since moving to Hungary and the value of […]


Corporate bank cards increase in number

Jul 24, 2017

The market for business bank cards in Hungary has grown steadily over the last two years, according to statistical figures published by the National Bank of Hungary. It is while the total market has virtually stagnated according to the number of units.

| Can Stock Photo Inc./Eyesee10

EU funds produce great Hungarian budget surplus

Nov 5, 2015

Hungary posted HUF 138.4 billion budget surplus in October, the financial website quotes a preliminary data report published by the National Economy Ministry. It is attributable to previously suspended EU funding that has now been disbursed.

| Dávid Harangozó

Hungarian gov't takes out EUR 500 mn loan

Sep 28, 2015

The European Investment Bank (EIB) is granting EUR 500 million, the first tranche of an approved loan amount of EUR 1.5 billion, to Hungary to -as the government claims - co-finance priority projects receiving support from EU funds.

| Can Stock Photo Inc./viperagp

Hungary's state debt at record high

Jul 16, 2015

Hungary's public debt has never been over HUF 25,000 billion - until now. According to the Hungarian Debt Management Center, a recent increase of 1,377 bn brought it over the 25,000 bn level. Government officials cliam the increase is only temporary.

People line up for information on their money in front of brokerage branch office in downtown Budapest | Tamás Kovács / MTI

Brokerage scandal continues in Hungary

Mar 10, 2015

The National Bank of Hungary suspended the brokerage licence of the Hungarian Quaestor on Tuesday, citing regulatory shortcomings, and said the firm may also have issued many more bonds than permitted under its issuance program, the Reuters reported.

| Dim Dimich/

Hungary's debt close to all time high

Aug 18, 2014

Hungary’s gross general government debt was 85.1% of gross domestic product at the end of the second quarter of 2014. It is believed to be related to the peculiar course in Hungary’s debt financing and a correction of the end-2013 doctoring of debt figures.

FX loan debtors protest in front of Hungarian Parliament | Szilárd Koszticsák / MTI

Government to eliminate FX loans

Jul 7, 2014

Foreign-currency denominated loans will be eliminated from Hungary's lending market by way of converting them to Hungarian forint (HUF) loans before the end of this year, Minister of National Economy Mihály Varga told public media on Monday.

The ING office building in Budapest | source:

ING Investment Management leaves Hungary

May 21, 2014

ING Investment Management, which was the third-largest on the Hungarian market in 2010 with HUF 1.2 trillion worth of funds managed, is winding up its local operation. The company’s foreign owner decided to cease operation of the Hungarian unit as of July 2014.

| Jakub Krechowicz/

Hungary's public debt remains over 80pc of GDP

Jan 2, 2014

Hungary’s general government consolidated gross debt at nominal value (or called the Maastricht debt) was 80.2% of GDP at the end of the third quarter of 2013, according to financial accounts data relesead by the National Bank of Hungary. (NBH).

EBRD President Suma Chakrabarti (on the left) received by Hungarian National Economy Minister Mihály Varga in Budapest | Hungarian Ministry for National Economy

EBRD President in Budapest

Nov 19, 2013

The President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti paid a visit to Budapest where he discussed with Minister for National Economy Mihály Varga several ussies on the agenda between the bank and Hungary.

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