Central Bank Withdraws Sberbank Licence in Hungary

  • 3 Mar 2022 1:35 PM
  • Hungary Matters
Central Bank Withdraws Sberbank Licence in Hungary
The National Bank of Hungary (NBH) said it has withdrawn the lending licence of Russian-owned Sberbank Hungary because of its “serious liquidity and capital situation” amid international sanctions against Russia.

It noted that the EU’s Single Resolution Board (SRB) had ordered the bank’s parent company, Austria-based Sberbank Europe, to be wound up.

Hungary’s National Deposit Insurance Fund (OBA) will pay Sberbank Hungary clients compensation up to the 100,000 euro coverage threshold within ten days.

MTI Photo: Noémi Bruzák

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National Bank Caps Client Withdrawals at Russian Sberbank in Hungary

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