Bank client complaints rise 28% in Q4

The State Financial Supervisory Authority (PSZÁF) received 539 complaints from clients of banks and investment services companies in Q4 2005, up 28% from Q3 and up 56% year-on-year, according to PSZÁF's fourth quarter report on complaints.

PSZÁF found 20% of complaints well grounded. During all of 2005, banking clients made 1,859 complaints, and clients of financial services companies made 60. Clients complained about the information they were offered, claiming to have been misinformed in 30% of all cases, and about conditions such as fees. Of the 206 banking client complaints received in the fourth quarter, 38% were about loan and deposit contracts. PSZÁF noted that many clients did not anticipate that interest rates in their contracts could change. PSZÁF received 385 complaints from clients of insurance companies in Q4, and 34 complaints from clients of pension funds. During all of 2005, insurance company client complaints totaled 1,326 and pension fund client complaints came to 120.

Art

Hungary Runner-up to London as European Film Production Base

Telco

4iG Group Reports Record Revenue, EBITDA in H1

World

Foreign Ministry Calling on Hungarian Citizens to Leave Lebanon

EU

Magyar Calls for EU Help to Assuage High Food, Energy Prices

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.