Insurance fund to pay some DRB account holders; HUF 12.9 bln not covered

Telco

Hungary's National Deposit Insurance Fund (OBA) said yesterday that it had begun paying HUF 103 bln in compensation to approximately 73,000 clients of the DRB bank group. Compensation will first be paid to some 64,000 depositors with small deposits of around HUF 22,550 to HUF 100,000. 

The rest will go to other private individuals and approximately 10,000 legal persons. An additional HUF 5.5 bln of the group's stock of deposits must be scrutinized further. The accounts include those set up by legal guardians and those belonging to deceased account holders.

The deposit insurer said that depositors will not be compensated for a combined HUF 12.9 bln in deposits at the bank group, as their deposits are over the per-deposit limit insured by OBA. 

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