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Sopron Bank receives HUF 29 mln fine

MNB

The National Bank of Hungary (MNB) fined Sopron Bank Burgenland HUF 29 million on charges of a number of regulatory shortcomings, the central bank said today in an announcement.

The central bank said it found shortcomings in the bank’s assets and coverage classification, capital calculation, reserve and internal control activities, Hungarian news agency MTI reported. MNB, however, stressed that the irregularities it found did not involve risks that would endanger safe operations of the bank. 

The bank is ordered to change practices and send a report on such measures to the central bank by September 30, MNB added.

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