BIGGEST EVER FINE IN HUNGARIAN COMPETITION LAW

The Hungarian competition authority just imposed its biggest ever single case fine in history, 9.488.200.000 HUF (cca 31,6 million Euro) on 11 financial institutions. See the press release here: http://www.gvh.hu/gvh/alpha?do=2&st=2&pg=133&m5_doc=8456

Later tomorrow, after reading the decision.

The differences are striking. Will be intersting to see the reasoning:

 

HUF

Euro

Budapest Bank Zrt.

283.50.000

ca. 945.000

CIB Bank Zrt.

835.400.000

ca. 2.785.000

Citibank Europe plc., Hungarian branch office

800.000

ca. 2.700

Erste Bank Hungary Zrt.

1.725.700.000

ca. 5.752.300

Kereskedelmi és Hitelbank Zrt.

983.300.000

ca. 3.278.000

Magyar Takarékszövetkezeti Bank Zrt.

1.000.000

ca. 3.300

MKB Bank Zrt.

783.000.000

ca. 2.610.000

OTP Bank Nyrt.

3.922.400.000

ca. 13.074.700

Raiffeisen Bank Zrt.

583.600.000

ca. 1.945.300

UCB Ingatlanhitel Zrt.

63.200.000

ca. 210.700

UniCredit Bank Zrt.

306.300.000

ca. 1.021.000

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