MNB fines KDB Bank HUF 20.75 mln

MNB

The National Bank of Hungary (MNB) on Friday said it fined KDB Bank a combined HUF 20.75 million over shortcomings affecting the bankʼs risk management, accounting, data reporting, deposit insurance, and IT and IT security areas and instructed the bank to remedy the shortcomings, state news wire MTI says.

MNB said the problems revealed do not carry systemic risk or threaten the bankʼs reliable operation.

The central bank found the shortcomings in a comprehensive audit conducted at the bank, covering the period from the end of September 2016.

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