Bloomberg News

OTP Bank Heads for Three-Week Low as Hungary Unemployment Climbs

March 29, 2012

OTP Bank Nyrt. (OTP), Hungary’s largest lender, headed for the lowest level in three weeks, as a report showed the country’s unemployment rate climbed and European stocks fell.

OTP’s shares fell 0.5 percent to 3,801 forint by 9:35 a.m. in Budapest, the weakest on a closing basis since March 8. The unemployment rate rose to 11.6 percent in the December to February period, the Central Statistics Office in Budapest said in an e-mailed statement today.

To contact the reporter on this story: Andras Gergely in Budapest at

To contact the editor responsible for this story: Gavin Serkin at

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