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Hungarian Bank Association head resigns

Péter Felcsuti on Monday said he resigned from his post as president of the Hungarian Bank Association over differences with other association members.

“My stand on some strategic bank sector questions significantly differs from the opinions of some big Bank Association members,” Felcsuti said in a statement.

The statement did not reveal the differences and Felcsuti declined to comment on the content of the statement when asked by MTI.

The statement was made a day after Ádám Farkas, head of financial market watchdog PSZÁF, said an agreement on the text and content of a code of conduct for Hungarian banks had been reached at expert level and was ready to be signed. The code of conduct affects the entire scope of lending, including what information banks provide for borrowers, preparations for signing lending contracts and management of problem loans, he added.

It is in the best interest of the banking system to accept the code of conduct, said Hungarian Bank Association vice president Mihály Patai.

Felcsuti is the CEO of Raiffeisen Bank. (MTI-ECONEWS)