Hungarian Bank Owner Denies Special Treatment by Cousin Matolcsy
- NHB bank acted lawfully, Magyar Idok cites Tamas Szemerey
- Says other lenders also kept central bank foundation deposits
This article is for subscribers only.
Tamas Szemerey, the owner of NHB Novekedesi Hitel Bank Zrt., rejected claims that his lender had received preferential treatment by being mandated to manage deposits of the National Bank of Hungary’s foundations, launched with a $1 billion endowment by his cousin, Governor Gyorgy Matolcsy.
NHB is the smallest of at least 5 lenders handling the foundations’ funds, therefore there’s nothing amiss with the dealings, Szemerey told the Magyar Idok newspaper in an interview published Saturday. The costs of handling the money and deposit fees taken by the lender are broadly balanced, he said.