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Erste Bank tells police about rumormongering

History

In response to reports that customers crowded several of the bankʼs branches in Debrecen after rumors circulated that the bank was about to file for bankruptcy, Erste Bank Hungary Deputy CEO László Harmati said yesterday on M1 public TV that his company had filed a complaint with the police about rumormongering.

The bankʼs liquidity and its capital strength is solid, and nothing endangers its financial stability, Harmati said, adding that the bank already had information on how and from what source the rumors were circulated, information they will pass on to the police.

Harmati said that Erste had made up for losses stemming from the 2014 borrowersʼ relief legislation and the conversion of FX retail mortgages into forint through a capital raise carried out last year. It closed the fourth quarter with a profit, he added.

In February the bank and government officials announced that the Hungarian state was buying a 15% statke in Erste Bank Hungary and the European Bank for Reconstruction and Development was buying its own 15% stake in the bank.

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