"A Zagreb court last week ruled that eight banks had mis-sold Swiss franc loans to retail clients. All foreign-owned, the banks make up more than 80 per cent of the Croatian banking industry.
The judgement – which is open to appeal – is fascinating in its many implications, not the least of which is the damages banks may have to pay.
The banks included Croatia’s two largest, Zagrebacka banka (part of the Unicredit group) and Privredna banka Zagreb (part of the Intesa group), as well as Erste, Raiffeisen, Hypo Alpe-Adria Bank, OTP, Splitska banka (part of the Société Générale group) and Sberbank – formerly Volksbank."
'via Blog this'
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