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Fewer complaints filed with PSZAF in Q1

Hungarian financial market watchdog PSZAF received 1,716 complaints in the first quarter of 2011, 14% fewer than in the previous quarter and down 47% from the same period a year earlier, data published on PSZAF's website shows.

Complaints against banks accounted for more than 70% of the total. Complaints against financial companies made up more than one-fifth.

Almost two-thirds of the complaints against financial and capital market operators made in the first quarter were related to lending, just as in the previous quarters.

PSZAF received complaints about Budapest Bank, the Hungarian branch of Citibank and Magyar Cetelem Bank that exceeded their respective market shares. It received complaints about OTP Bank, K and H Bank and MKB Bank that were under their respective market shares.