Hungarian International Bank To Shut Down London Operation
BANKS
London-based Hungarian International Bank (HIB) is winding down its operation after a decision by its parent, National Bank of Hungary (NBH), to shed its commercial interests now that it is Hungary's central bank, officials confirm.
A statement by NBH says that HIB is "highly successful and profitable" and will meet all its outstanding obligations and honour all its commitments in full. The only reason for the shut-down, says the statement, is that NBH has decided to follow the conventional
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