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Fewer complaints filed with market watchdog in H1

Hungarian financial market watchdog PSZAF received 3,168 complaints in the first half of 2011, 9.9% fewer than in the previous quarter and down 26.4% from the same period a year earlier, data published on PSZAF's website shows.

The decrease primarily affected the financial market and the insurance sectors.

Complaints concerning the financial and capital market sector accounted for 63% of all consumer complaints.

Almost two-thirds of the complaints against financial and capital market operators made in the first half were related to lending, just as in the previous period. The number of these complaints fell considerably, by one-third compared to the previous four six-month periods.

PSZAF received complaints about Budapest Bank and Magyar Cetelem Bank that exceeded their respective market shares. It received complaints about UniCredit Bank, K and H Bank and MKB Bank that were under their respective market shares.

Costumers' complaints handled by the institutions were significantly in excess of the respective market shares for OTP Bank, OTP Mortgage Bank, Credigen Bank, Budapest Bank and K and H Bank, the regulator said.

Within the insurance sector PSZAF received complaints exceeding the respective market share for Groupama Garancia, Genertel and the insurance association Közlekedési Biztosító Egyesület in H1. In terms of complaints handled by the insurers, Generali-Providencia, Genertel Biztosító and Allianz Hungária received the most complaints in relative terms.