In connection with the liquidation of the DRB Banking Group the National Deposit Insurance Fund (NDIF) will pay compensation to over 73,000 depositors, in the amount of nearly HUF 103 billion in the first round. The banking group had branches in nearly all counties: the banks subjected to the liquidation proceeding had branches in Budapest as well as in 13 counties. The largest group of customers live in Somogy county, who are also eligible for the highest compensation, nearly HUF 25 billion in total. Regarding the number of customers living in cities, Pécs, Budapest and Kaposvár are on top of the list. NDIF started to pay out compensations to the… Read More

In connection with the liquidation of the DRB Banking Group the National Deposit Insurance Fund (NDIF) will pay compensation to over 73,000 depositors, in the amount of nearly HUF 103 billion in the first round. Out of the 64,000 private individual depositors 22,558 (customers with less than HUF 100,000 in deposits) will receive their compensation through the Hungarian Post from today on. At the same time, the posting of notices to the other private individuals and 10,000 legal entities has also started. By the fifth working day of the compensation procedure NDIF has processed the data of 99.5% of the affected depositors, and has transferred them to the paying agents… Read More

Press release   3 March 2015   The National Deposit Insurance Fund (NDIF) will start the indemnification of the depositors of the DRB Banking Group tomorrow, and will complete the process within 20 working days. The customers of BUDA Regionális Bank, Dél-Dunántúli Regionális Bank, Dél-Dunántúli Takarék Bank and Észak-magyarországi Regionális Bank can receive a maximum compensation of HUF 30,461,000, i.e. the HUF equivalent of EUR 100,000 per person, independent of whether they are individual or corporate customers. Up to HUF 100,000 the entire amount of the compensation will be delivered in cash to the customers’ homes by the Hungarian Postal Service. Depositors eligible for higher indemnities will be notified by… Read More

Press release 21 January 2015 Hungarian deposit insurance was fast and reliable in 2014 too In 2014 the National Deposit Insurance Fund of Hungary (NDIF) compensated over 63,000 depositors of nine credit institutions – reveals the annual statement of the Fund. Total compensation payouts exceeded HUF 119 billion. Using the databases of the affected credit institutions NDIF repaid the overwhelming majority of the holders of covered deposits much sooner than the 20 working days deadline. In 2014 the depositors of nine credit institutions had to be compensated in Hungary. In addition to payouts related to six credit institutions that were closed down during the year, some repayments were rolled over… Read More

Press release 11 December 2014 The National Deposit Insurance Fund (NDIF) has started the indemnification of the depositors of Tisza Cooperative Savings Bank today, and most of the affected customers are expected to receive their compensation by Christmas. Indemnities up to HUF 100,000 will be delivered by the Hungarian Postal Services to the depositors’ addresses, while in the case of larger amounts depositors will be notified by post about the possible ways of receiving their indemnities. Customers can obtain further information from NDIF’s customer service by calling their telephone number operational day and night. NDIF has started the indemnification of the depositors of Tisza Cooperative Savings Bank today after the… Read More

Press release 11 December 2014 Today the National Deposit Insurance Fund (NDIF) is also starting the indemnification of the depositors of Tisza Cooperative Savings Bank, and will finish the process within 20 working days. The customers of the savings bank can be entitled to the forint equivalent of maximum EUR 100,000 (maximum HUF 30,705,000) per person, independent of whether they are individual or corporate customers. Meanwhile, the ongoing payout processes of Széchenyi István Credit Union and Széchenyi Commercial Bank affect a total of 4,043 customers. In the three parallel indemnification processes NDIF must pay out nearly HUF 31.5 billion. NDIF has the resources required for fast payouts. Tisza Cooperative Savings… Read More

Press release For immediate release! (Budapest, 5 December 2014) The period of 20 working days available for the indemnification of the depositors of Széchenyi Kereskedelmi Bank (Széchenyi Commercial Bank) started on 8 December. The National Deposit Insurance Fund (NDIF) will pay depositors a compensation of maximum HUF 30,705,000 per person, independent of whether they are individual or corporate customers. The Central Bank of Hungary (MNB) revoked the operating licence of Széchenyi Kereskedelmi Bank on 5 December, and it also ordered the liquidation of the institution. Depositors do not need to queue or take any action in order to receive their compensation. Customers will receive the payment reports regarding the payment… Read More