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Hungary: Level of Credit Defaults Declining Significantly

Published: November 15, 2013; 16:45 · (Vindobona)

According to OTP Bank, the level of credit defaults from borrowers has started to drop to the lowest level since the beginning of the financial and economic crisis.

Hungary: Level of Credit Defaults Declining Significantly / Picture: © Flickr

The level of credit defaults is decling and now stands at its lowest rate since the beginning of the economic crisis. However, the positive effect is overshadowed by the bank levies introduced by the Hungarian government which are expected to double in spite earlier claims by the government to cut the extra taxes by a half.

Lazlo Bencsik, deputy CEO of OTP Bank, announced that…

This article includes a total of 268 words.

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