MNB sends oversight commissioners to Széchenyi Bank leasing unit

MNB

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The National Bank of Hungary (MNB) ordered oversight commissioners to financial businesses Széchenyi Lízing Pénzügyi Szolgáltató and Platinum Pénzügyi Szolgátatóház as of November 14. The MNB said the measures were required by the two businesses' capital postion and the need to guarantee lawful operations. 

The MNB did not introduce other restrictions on the two businesses. Széchenyi Lízing Pénzügyi Szolgáltató, operating since August 2013, is 51%-owned by Széchenyi Bank where an oversight commissioner was appointed and restrictions were introduced by the MNB as the market regulator on November 4. Széchenyi Bank is majority owned by T&T Ingatlanforgalmazó és Vagyonkezelő, a company tied to István Töröcskei, the head of the Government Debt Management Agency (ÁKK). Last year, the state of Hungary acquired a 49% stake through a HUF 3 bln capital raise in Széchenyi Bank. On November 6 the MNB withdrew the license of Széchenyi István savings cooperative, where Töröcskei acted as board chairman.

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