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PSzÁF fines CIB Bank Ft 3 mln

Hungarian financial market regulator PSzÁF said yesterday it had fined CIB Bank Rt Ft 3 million for breaking deposit management rules when handling several real estate investment funds, MTI-Eco reported. The funds include Hermes Real Estate Fund I, Gellérthegy Real Estate Fund II and Solva Real Estate Fund. PSzÁF found CIB Bank had failed to follow regulations when it audited real estate fund manager Hermes, which it also fined, Ft 2 million, for failing to follow investment rules.