Hungarian National Bank revokes Trive Bank license

The Hungarian National Bank (MNB) has revoked the operating license of Trive Bank and ordered its liquidation. The central bank determined that the institution's capital position no longer allows for continued market operations.

Trive Bank primarily provided small-value online personal loans. Due to its minimal scale, the MNB stated that the decision will not impact the stability of the domestic financial markets. The bank had fewer than 100 depositors, and its household loan portfolio of less than 2 billion HUF represents well below 0.01% of the total Hungarian banking market.

The National Deposit Insurance Fund (OBA) is set to compensate eligible depositors within seven working days, up to the statutory limit of 100,000 EUR (approximately 36 million HUF) per person. The Financial Stability and Liquidation Non-Profit Ltd. (PSFN) has been appointed to oversee the liquidation process.