MNB: Car leasing firm to refund HUF 380 mln to customers

Issues

Car leasing company Lombard Lízing must refund about HUF 380 mln to its customers under a non-appealable court ruling by the Budapest Municipal Court on February 3, the National Bank of Hungary (MNB) reported today.

The court upheld a first-instance decision which stated that the company unlawfully calculated forint-based comprehensive vehicle insurance premiums in foreign currency and charged the exchange rate difference to consumers.

Lombard Lízing appealed the first-instance court decision. The court case was initiated by the MNB. The MNB noted that the payment to be made based on the ruling is not related to Lombard Lizing's settlement obligation stipulated by the foreign currency loan acts.

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