ADVERTISEMENT

SKILL’s licence withdrawn, ordered liquidation

Parliament

The National Bank of Hungary (MNB) has withdrawn the license of financial service provider SKILL Pénzügyi és Tanácsadó Zrt.ʼs (SKILL Zrt.) and ordered it to apply for voluntary liquidation as the financial overseer suspects shortcomings at the company, according to an announcement by the central bank.

The announcement says the central bank believes SKILL does not fulfil several basic requirements to hold a licence, and that its operation seriously damages the interest of clients, Hungarian news agency MTI reported.

The MNB added that, following an inquiry, it found that SKILL has also failed to perform its obligations related to FX debt conversions and settlements. The market share of SKILL is negligible and it does not handle clientsʼ funds, MTI reported the MNB as saying.

ADVERTISEMENT

Impact of economic recovery on commercial property sector mu... Analysis

Impact of economic recovery on commercial property sector mu...

Márki-Zay wins opposition primary Elections

Márki-Zay wins opposition primary

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.