Bloomberg News

OTP Bank Falls to Three-Week Low After Reporting 66% Profit Drop

May 15, 2012

OTP Bank Nyrt. (OTP), Hungary’s largest lender, dropped to its lowest in three weeks after saying first- quarter net income plunged 66 percent and lending will probably expand at a slower rate than previously.

The shares fell 1.4 percent to 3,579 forint by 10:23 a.m. in Budapest, the lowest intraday level since April 24.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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