Bloomberg News

OTP Gains First Time in Four Days on Central Bank Law Amendments

June 12, 2012

OTP Bank Nyrt. (OTP), Hungary’s largest lender, advanced the first time in four days after a report Hungary is planning new amendments to a disputed central bank law, moving closer to the start of bailout negotiations.

The shares rose 0.5 percent to 3,405 forint by 10:01 a.m. in Budapest. The benchmark BUX stock index gained 1.2 percent to 16,999.25.

Hungary will probably present a new set of amendments to its central bank law that take into account criticism voiced by the European Central Bank, and lawmakers may vote on them within two weeks, Nepszabadsag said, citing politicians from the ruling Fidesz party. Bringing the central bank law in line with ECB requirements may unblock stalled bailout talks with the International Monetary Fund and the European Union.

To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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