Hungary's state debt manager AKK sold HUF 65bn (EUR 216.8mn) of three-month discount Treasury bills at an auction on September 10, raising the initial offer by HUF 15bn, AKK said.
Investors submitted bids worth HUF 154bn providing a healthy coverage ratio over the original supply. Demand nearly doubled from HUF 77.4bn at the previous auction held a week earlier, when AKK sold the announced volume of HUF 50bn.
The average yield at the latest auction reached 3.71%, down by 4bps from the previous tender but inline with the secondary benchmark fixing. The range of yields narrowed and varied between 3.68% and 3.73%.
Hungary’s economic rebound will be modest this year, around 2%, and the return to potential growth is set to be postponed to 2025 with GDP expanding around 3.2%, according to UniCredit bank's ... more
CIB realised a record HUF64bn (€160mn) in after-tax profit, up from HUF36.1bn a year ago, which translates to a robust 21.5% ROE, the Hungarian unit of Intesa Sanpaolo said on March 26. ... more