Erste Bank Hungary fined HUF 900 million in foreign-currency mortgage prepayment cartel case
Company: Erste Bank Hungary Zrt.
Summary
The Hungarian Competition Authority found that Erste Bank Hungary and other banks coordinated strategies and exchanged confidential information between 15 September 2011 and 30 January 2012 to restrict fixed-exchange-rate prepayment of foreign-currency mortgages. Following judicial review and a repeated proceeding, the GVH imposed a reduced HUF 900 million fine on Erste in 2018. Source: https://www.gvh.hu/en/press_room/press_releases/press_releases_2018/the_fines_imposed_as_a_result_of_a_cartel_related_