Budapest Business Journal

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Complete and independent daily business news from Hungary.
Updated: 49 min 5 sec ago

Central bank: Hungarian system “highly stable”

2013, November 7 - 12:30
The National Bank of Hungary has deemed the domestic banking system “highly stable” in its just-released biannual Report on Financial Stability; study authors also reckoned that forex-loan debt is one of the biggest risks to continuing said stability...

House Speaker: Finance deficit must stay under 3%

2013, September 6 - 12:20
In an interview with daily newspaper Fejér Megyei Hírlap, House Speaker László Kövér stated emphatically that the sitting government is committed to holding the country’s public finance deficit to less than 3% of the national GDP...

Csányi’s OTP selloff: Rumors fly, rift with Orbán theorized

2013, July 23 - 10:05
The plot thickens in the Sándor Csányi story: The OTP CEO's hurried dumping of nearly 2 million shares in the bank last Friday shook the BSE and has cause a 12.6% loss in the stock's value. Today, speculation is rife on the state of Csányi's health, his future plans and his reportedly recently troubled relationship with the prime minister...

Hungarian SMEs still undertake foreign currency risk

2013, July 16 - 16:20
Hungarian enterprises' sentiment towards loans changed positively due to the "Funding for Growth Scheme" of the National Bank of Hungary (MNB), but investment rate will grow only in the longer term, experts of Raiffeisen Bank said on Tuesday.

Demján to Orbán: Savings cooperative law must change

2013, July 10 - 10:05
OTSz chairman Sándor Demján has again appealed to Prime Minister Viktor Orbán, calling for changes to the now-approved law on the integration of saving cooperatives.

Kúria postpones decision on FX borrower vs OTP Bank

2013, June 26 - 16:10
Hungary's supreme court, the Kúria, on Tuesday postponed until July 4 a decision on a case brought against OTP Bank by a client with a foreign currency-denominated loan.

MNB aims to raise financial savvy of secondary school students

2013, April 26 - 17:40
Hungary's central bank will distribute a publication that aims to increase financial awareness to all eleventh-graders in Hungarian schools by the end of April

Hungary could renew part of FX debt to support MNB plan

2013, April 12 - 10:40
ungary's state debt management agency ÁKK could support central bank plans to help the economy by renewing some of its expiring foreign currency debt in forint-denominated bonds

About 31% of borrowers opted for exchange rate limit scheme

2013, April 9 - 16:35
About 31% of eligible borrowers with foreign currency-denominated loans opted to join an exchange rate limit scheme by the end of February

Eximbank assets could reach HUF 1,200 bln in three years

2013, April 9 - 16:00
Total assets of the Hungarian Export-Import Bank could rise from HUF 190 billion last summer to HUF 1,200 billion by 2016

Only banks in Hungary should buy MNB-bills

2013, April 9 - 10:10
Hungary's central bank should only allow banks operating in Hungary to buy the central bank's two-week bills and it should cut access to the key central bank facility for foreign banks who don't have operations in the country

MNB deputy-gov resigns

2013, April 9 - 09:00
National Bank of Hungary deputy-governor Júlia Király – the only remaining member of the central bank's rate-setting Monetary Council not appointed under the present government – announced her resignation because of changes made under recently appointed governor György Matolcsy

MNB announces measures to boost lending

2013, April 5 - 09:05
The National Bank of Hungary unveiled a package of measures dubbed “Funding for Growth Scheme"

Cyprus Parliament to probe alleged loan write-offs

2013, April 2 - 17:30
Cypriot MPs will investigate a list of several million euros of alleged loans to politicians and others said to have been written off by the two banks at the centre of the island’s financial crisis

Hungary 2012 general gov’t deficit 2.0% of GDP

2013, April 2 - 09:00
Hungary had a general government deficit of HUF 566.7 billion or 2.0% of GDP last year

Cyprus’s banks open after two weeks as controls curb panic

2013, March 29 - 11:50
Cyprus’s banks opened for the first time in almost two weeks, with new rules curbing access to cash preventing an initial panic to withdraw deposits

Hungary’s MOL signs $480 mln revolving credit deal

2013, March 29 - 10:55
Hungarian oil and gas group MOL has signed a $480 million revolving multi-currency credit agreement

MNB lowers all projections of inflation in 2013

2013, March 29 - 09:00
 The National Bank of Hungary lowered projections for all gauges of consumer inflation this year

Serbia to shut down RVB bank, transfer assets, loans, official says

2013, March 26 - 17:05
The Serbian troubled Razvojna Banka Vojvodine (RVB) will cease to exist next month, after it transfers its assets, clients and loans to another bank and loans to a special fund