SKILL’s licence withdrawn, ordered liquidation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The National Bank of Hungary (MNB) has withdrawn the license of financial service provider SKILL Pénzügyi és Tanácsadó Zrt.ʼs (SKILL Zrt.)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

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga Analysis

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga

Energy Crisis Requires Public Intervention in Corporate Sect... Government

Energy Crisis Requires Public Intervention in Corporate Sect...

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed

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.