Bloomberg News

OTP Falls Most in Three Weeks on Orban Bank Plan: Budapest Mover

July 17, 2012

OTP Bank Nyrt., Hungary’s largest lender, fell the most in three weeks after Prime Minister Viktor Orban said Hungarian ownership in the financial industry should be at least 50 percent.

The shares dropped 2.3 percent to 3,452 forint by the close in Budapest, the biggest slide since June 25. The benchmark BUX stock index rose 0.3 percent to 17,275.91.

Hungary wants to boost local control in banks and is proposing a non-profit model for utility companies to build a “new economic system,” Orban told business leaders in Budapest today.

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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