Hungary’s OTP Bank Chief: Early FX Loan Repayment “Most Damaging Measure” Of Past 4 Years
- 28 Apr 2014 9:00 AM
The government’s early repayment scheme for troubled mortgageholders who borrowed in foreign currency was its most damaging measure of the past four years, OTP Bank chief Sándor Csányi told the bank’s AGM on Friday.
He said the measure had cost the bank “a lot” and had at the same time most helped out well-off borrowers who did not really need it. The most responsible measure, however, was the exchange-rate cap, he said, adding that 30% of OTP clients had taken advantage of it.
Source www.hungarymatters.hu
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