93 result(s) for borrowers
Hungary’s OTP: Refunds For Borrowers’ Relief Could Be Bigger Than Expected
- 13 Aug 2014 9:00 AM
- business
The impact of National Bank of Hungary guidelines on calculating refunds to be paid under borrowers’ relief legislation could generate bigger than expected losses for OTP Bank, the lender has said.
Moody’s Downgrades Hungary’s Erste, FHB Banks
- 13 Aug 2014 3:00 AM
- business
Moody’s Investors Service downgraded the deposit ratings of Erste Bank Hungary and FHB Mortgage Bank both to B3 from B2 on Tuesday, the ratings agency announced. Moody’s maintained the negative outlook for both banks, citing “increased risk of losses” resulting from recently adopted borrowers’ relief legislation and “ongoing negative pressure on...financial fundamentals”.
Capital Raised By HUF 15.4bn At Hungarian Unit Of CIB Bank
- 1 Aug 2014 9:00 AM
- business
Italy’s Intesa Sanpaolo is raising capital at its Hungarian unit, CIB Bank, by 15.4 billion forints (EUR 50m), the lender said on the website of the Budapest Stock Exchange. The raise will take place with the subscription of a single share with a nominal value of 1 forint.
Hungarian Banks Required To Prove Fairness Of FX Contracts
- 31 Jul 2014 11:00 AM
- business
From now on banks will be required to prove that their procedures in forex lending have been straightforward, under a law which took effect last Saturday. Lawsuits initiated by borrowers against their banks before the supreme court passed its decision of legal unity have been suspended.
Hungary’s Forint Conversion Of FX Loans Expected In 2015
- 21 Jul 2014 5:00 AM
- property
The conversion of foreign currencydenominated loans into forints is expected to take place in 2015, Economy Minister Mihály Varga said in an interview published on the website of weekly HVG. Legislation on the conversion is expected to be submitted to parliament at the end of November or early December, and the relevant laws should be passed before the end of the year, Varga told hvg.hu.
Foreign Parents To Be Hit By FX Bailout Costs In Hungary, Says Fitch
- 9 Jul 2014 9:00 AM
- business
Foreign owners will need to inject capital into their Hungarian units because of compensation lenders are asked to pay as part of a new law on relief for borrowers, Fitch Ratings said on Tuesday.
Foreign Currency Loans To Be Eliminated From The Hungarian Market By End Of 2014
- 8 Jul 2014 10:00 AM
- business
Foreign-currency denominated loans will be eliminated from Hungary's lending market by way of converting them to forint loans before the end of this year, Minister of National Economy Mihály Varga told public media on Monday. Based on a Supreme Court ruling, deeming the rate spread applied to foreign currency loan constructions unfair, Parliament adopted on Friday a bailout package. According to ...
Hungary’s Finance Minister Varga: Bank Tax May Be Redesigned
- 8 Jul 2014 9:00 AM
- business
The government is mulling a rethink of Hungary’s sectoral tax on banks, Mihály Varga, the economy minister, told public broadcaster Kossuth Rádió. “I don’t exclude the possibility of revising or rethinking the banking tax, since banks are going to be assuming a heavy burden to compensate clients, but now is not the time for this.”
FX Bill To Be Passed In Hungary In One Day
- 27 Jun 2014 9:00 AM
- property
Parliament will debate the bill on foreign-currency mortgage borrowers on July 4 and pass it that same day, Fidesz caucus leader Antal Rogán told reporters on Thursday. In addition, courts are asked not to take a summer recess, he said, in order to close cases as soon as possible.
Hungary’s OTP: Refunds For Borrowers’ Relief Could Be Bigger Than Expected
- 13 Aug 2014 9:00 AM
- business
The impact of National Bank of Hungary guidelines on calculating refunds to be paid under borrowers’ relief legislation could generate bigger than expected losses for OTP Bank, the lender has said.
Moody’s Downgrades Hungary’s Erste, FHB Banks
- 13 Aug 2014 3:00 AM
- business
Moody’s Investors Service downgraded the deposit ratings of Erste Bank Hungary and FHB Mortgage Bank both to B3 from B2 on Tuesday, the ratings agency announced. Moody’s maintained the negative outlook for both banks, citing “increased risk of losses” resulting from recently adopted borrowers’ relief legislation and “ongoing negative pressure on...financial fundamentals”.
Capital Raised By HUF 15.4bn At Hungarian Unit Of CIB Bank
- 1 Aug 2014 9:00 AM
- business
Italy’s Intesa Sanpaolo is raising capital at its Hungarian unit, CIB Bank, by 15.4 billion forints (EUR 50m), the lender said on the website of the Budapest Stock Exchange. The raise will take place with the subscription of a single share with a nominal value of 1 forint.
Hungarian Banks Required To Prove Fairness Of FX Contracts
- 31 Jul 2014 11:00 AM
- business
From now on banks will be required to prove that their procedures in forex lending have been straightforward, under a law which took effect last Saturday. Lawsuits initiated by borrowers against their banks before the supreme court passed its decision of legal unity have been suspended.
Hungary’s Forint Conversion Of FX Loans Expected In 2015
- 21 Jul 2014 5:00 AM
- property
The conversion of foreign currencydenominated loans into forints is expected to take place in 2015, Economy Minister Mihály Varga said in an interview published on the website of weekly HVG. Legislation on the conversion is expected to be submitted to parliament at the end of November or early December, and the relevant laws should be passed before the end of the year, Varga told hvg.hu.
Foreign Parents To Be Hit By FX Bailout Costs In Hungary, Says Fitch
- 9 Jul 2014 9:00 AM
- business
Foreign owners will need to inject capital into their Hungarian units because of compensation lenders are asked to pay as part of a new law on relief for borrowers, Fitch Ratings said on Tuesday.
Foreign Currency Loans To Be Eliminated From The Hungarian Market By End Of 2014
- 8 Jul 2014 10:00 AM
- business
Foreign-currency denominated loans will be eliminated from Hungary's lending market by way of converting them to forint loans before the end of this year, Minister of National Economy Mihály Varga told public media on Monday. Based on a Supreme Court ruling, deeming the rate spread applied to foreign currency loan constructions unfair, Parliament adopted on Friday a bailout package. According to ...
Hungary’s Finance Minister Varga: Bank Tax May Be Redesigned
- 8 Jul 2014 9:00 AM
- business
The government is mulling a rethink of Hungary’s sectoral tax on banks, Mihály Varga, the economy minister, told public broadcaster Kossuth Rádió. “I don’t exclude the possibility of revising or rethinking the banking tax, since banks are going to be assuming a heavy burden to compensate clients, but now is not the time for this.”
FX Bill To Be Passed In Hungary In One Day
- 27 Jun 2014 9:00 AM
- property
Parliament will debate the bill on foreign-currency mortgage borrowers on July 4 and pass it that same day, Fidesz caucus leader Antal Rogán told reporters on Thursday. In addition, courts are asked not to take a summer recess, he said, in order to close cases as soon as possible.