OTP Bank Falls for Second Day, Leading Hungarian Shares Lower

OTP Bank Nyrt. (OTP), Hungary’s largest lender, fell for a second day, leading a drop in the country’s shares as a cut in the Federal Reserve’s growth estimates for the U.S. deepened concern the global economy is slowing.

OTP’s shares dropped 2.3 percent to 3,684 forint by 9:18 a.m. in Budapest. The benchmark BUX stock index slid 1.4 percent to 17,536.97.

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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