MNB fines K&H Bank group HUF 69 mln

MNB

The National Bank of Hungary (MNB) fined the K&H Bank group HUF 69 mln on charges of shortcomings in its capital calculation, accountancy, risk management, collateral assessment, IT and investment and internal regulations, the MNB said in a statement today.

The MNB reportedly instructed K&H Bank group to remedy the shortcomings found in a comprehensive audit of the bank and its subsidiaries K&H Faktor and K&H Ingatlanlízing, covering the period from October 2012.

The MNB said the infringements do not carry any systemic risks seriously jeopardizing the bank groupʼs reliable operation.

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