OTP Bank Snaps Six Days of Declines as Hungary Moves Toward Aid

OTP Bank Nyrt. (OTP), Hungary’s largest lender, snapped six days of losses as the International Monetary Fund acknowledged the government’s progress toward starting aid negotiations.

OTP’s shares rose 1.3 percent to 3,406 forint by 11:15 a.m. in Budapest after falling 11 percent in the previous six days. The benchmark BUX stock index advanced 0.4 percent to 17,050.16.

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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