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Finance

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Booking.com Payment Debacle Threatens Hungarian Accommodation Providers

D&T
Aug 9, 2023

The picturesque landscapes and historic charm of Hungary have long been a draw for travelers seeking unique experiences. However, the idyllic scene has been marred by a financial storm as global accommodations giant Booking.com faces backlash for failing to make timely payments to its Hungarian hosts and hotel partners. The repercussions are dire, with numerous […]

Hungarian inflation shaves off billions of household savings

D&T
Jul 21, 2023

The majority of household savings are in cash, due to high inflation we are experiencing a very serious loss of wealth, Hungarian households are losing several thousand billion forints due to inflation. As the annual inflation rate hovered just above 20% in June, the toll of skyrocketing consumer prices is adding up for Hungarians. Hungary […]

Future of Finance in Hungary

D&T
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

D&T
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 […]

| americanexpress.com

Corporate bank cards increase in number

D&T
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

D&T
Nov 5, 2015

Hungary posted HUF 138.4 billion budget surplus in October, the financial website portfolio.hu 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

D&T
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

D&T
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

D&T
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/Shutterstock.com

Hungary's debt close to all time high

D&T
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

D&T
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: insurance-vacancies.com

ING Investment Management leaves Hungary

D&T
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.

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