Bloomberg News

OTP Bank to Cover Losses of Mortgage Unit on Franc Home Loans

October 11, 2011

Oct. 11 (Bloomberg) -- OTP Bank Nyrt., Hungary’s largest lender, will cover the losses of its mortgage unit that result from early repayments of foreign currency home loans at below market prices.

OTP made the announcement in a statement to the Budapest Stock Exchange today.

To contact the editor responsible for this story: Zoltan Simon at zsimon@bloomberg.net


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