Politics

Hungary: Banks Penalized for Lobbying

Published: November 20, 2013; 15:59 · (Vindobona)

The Hungarian competition authority GVH has imposed a penalty running in the millions on domestic and foreign banks.

Hungary: Banks Penalized for Lobbying / Picture: © Flickr

As reported by Reuters, the Hungarian competition authority GVH has imposed a penalty on eleven banks in the amount of HUF 9.5bn (around € 30m), as announced on Wednesday. The financial institutes are suspected of having operated a cartel during a repayment scheme for foreign currency loans two years ago offering exchange rates significantly below the market price. The GVH said the…

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Hungary: Banks Penalized for Lobbying

The Hungarian competition authority GVH has imposed a penalty running in the millions on domestic and foreign banks.

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.