MNB fines former Széchenyi Bank executives

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Image by Jessica Fejos

The National Bank of Hungary (MNB) said today it fined former executives of Széchenyi Bank a combined HUF 76 mln for unspecified violations.

The National Bank of Hungary withdrew the license of Szechenyi Commercial Bank at the end of last year, citing irregularities. In March of this year, it filed a criminal complaint against unknown perpetrators over suspected misappropriation, mismanagement and other financial abuses at the bank.

In a resolution published Tuesday, the central bank and market watchdog said it fined the bankʼs former CEO, identified only by his initials, T. Sz., HUF 20 mln; former deputy-CEO K. D. HUF 19 mln; former deputy-CEO for corporate accounts Zs. L. HUF 19 mln; and former board member Zs. T. HUF 18 mln.

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