Erste: Up to €300 mln negative impact expected

Analysis

The negative effect on Erste Bank of recently approved legislation regulating retail loan contracts could add up to as much as €300 mln, the lender told Hungarian news agency MTI today.

The legislation requires banks to compensate retail borrowers for using exchange rate margins that differ from the official exchange rate and for making unilateral changes to contracts.

Erste Bank said it is planning to take take legal recourse in the matter.

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