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OTP Bank Nyrt. (OTP), Hungary’s largest lender, lost a lawsuit against a retail customer in connection with foreign-currency calculation methods used for the repayment of a Swiss-franc mortgage, news website azenpenzem.hu said, without saying how it obtained the information.
The lender initiated the lawsuit after a financial arbitration board operating under the auspices of the financial market regulator ruled that OTP should pay back about 600,000 forint ($2,521) in foreign-exchange differences, the news website said, citing Istvan Binder, a spokesman for the market watchdog.
The court’s ruling, which upheld the arbitration board’s verdict, is binding, the portal said, adding that four similar cases are currently under way.
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