Police investigation of the bank began after a HUF 105 million fine levied by the National Bank of Hungary (MNB) against the lender on charges of violating rules prohibiting illegal market manipulation. The bank said it may appeal the fine.
The editor of news portal index.hu, which is published by a company owned by Spéder, addressed the claims in mid-June that the authorities are pursuing cases against FHB mortgage bank because the chairman of FHB’s board also owns several media outlets.
FHB mortgage bank is under review for a downgrade by Moody’s Investors Service, according to a press release from the ratings agency published on Tuesday. Moody’s cited negative publicity as well as government actions against FHB bank. Observers have said the bank is being targeted because its chairman owns media outlets that criticize the government.
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