CIB Bank fined HUF 460 million in foreign-currency mortgage prepayment cartel case
Company: CIB Bank Zrt.
Summary
The Hungarian Competition Authority found that CIB Bank 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 460 million fine on CIB 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_