Business
Moody’s upgrades Hungarian banks’ ratings
The change of the Macro Profile reflects Moody's assessment that the sizeable recovery of the Hungarian economy, with 3.7% real GDP growth forecasted for 2021 and 5.2% for 2022, will offer Hungarian banks significant loan growth opportunities supporting a strong recovery of their profitability.
Moody’s upgraded the long-term deposit ratings of Budapest Bank and MKB Bank to Ba1 from Ba2, with the positive outlook maintained.
Raiffeisen Bank's long-term deposit rating was raised to Baa1 from Baa2. The outlook remains stable.
Moody’s also affirmed K&H Bank’s and Erste Bank’s Baa1 long-term deposit ratings with a stable outlook.
Cover photo: Michael Nagle/Bloomberg via Getty Images
