NHB to take over Buda-Cash client portfolios

Analysis

NHB Növekedési Hitel Bank has won a tender to take over the client portfolios of failed brokerage Buda-Cash Brokerház, liquidator PSFN said, Hungarian news agency MTI reported on Friday.

The transfer of the portfolios still requires the approval of the National Bank of Hungary. 

NHB was the only party to offer to take over the portfolios.

Independent brokerage Buda-Cash went under liquidation last spring, after it came under investigation for suspected criminal activity.

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