OTP Bank fined HUF 1.435 billion in foreign-currency mortgage prepayment cartel case
Company: OTP Bank Nyrt.
Summary
The Hungarian Competition Authority found that OTP Bank and other banks coordinated strategies and exchanged confidential information between 15 September 2011 and 30 January 2012 in order to restrict fixed-exchange-rate prepayment of foreign-currency mortgages. Following judicial review and a repeated proceeding, the GVH imposed a reduced HUF 1.435 billion fine on OTP 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_