MNB orders DRB Bank members to halt operations for a day

Deals

The Hungarian central bank ordered the four regional members of the DRB Bank Group to halt operations for a day on the initiative of oversight commissioners. 

The commissioners were put in charge of the banks by the National bank of Hungary (MNB) after Buda-Cash brokerage’s operations were closed down on suspected misuse, and their brokerage license withdrawn.

The banks are connected to Buda-Cash via ownership. The central bank also placed a HUF 1 mln cap on withdrawals at the four DRB banks under investigation.

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