CIB Bank: Borrowers’ relief to cost HUF 20 bln
CIB Bank has set aside HUF 20 bln in the first half of 2014 to pay for compensation that may be due to borrowers based on a new law that voids the use of exchange rate margins for foreign currency-denominated loans, the bank announced today.
CIB Bank added that it would defend the unilateral changes it made to contracts in court, so that compensation for the changes are “not known at the present”.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.