MNB fines Takarék Group HUF 32.5 mln

Banking

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The National Bank of Hungary (MNB) said it fined Takarék Group HUF 32.5 million for compliance violations.

The central bank and financial market watchdog said various group members had failed to comply fully with rules on lending risk, IT systems, data provision, and enterprise management.

The MNB set deadlines for the Takarék group members to report on corrective measures. The MNB noted that the regulatory shortfalls "do not endanger the banking group's trustworthy operation."

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