Central Banker Cites Orban-Era ‘Blackmail’ for Leaving Erste

The Hungarian central bank launched a probe after one of its former governors and critic of Viktor Orban said he quit a top job at Erste Group Bank AG following “blackmail” from the financial supervisor in Budapest.

Andras Simor said he left the Vienna-based bank’s oversight board less than a year after his mandate was extended for a second three-year term in 2023, according to an interview with the ATV broadcaster late Wednesday. The former head of the financial regulator, ex-deputy governor Csaba Kandracs, denied wrongdoing.