Hungarian OTP Bank Increases Romania Unit Capital by $14 Million

OTP Bank Nyrt. (OTP), Hungary’s largest lender, increased the capital at its Romanian unit for the second time this year to strengthen its local market position.

The lender boosted the unit’s capital by 50 million lei ($14 million) on Dec. 5 to a total of about 733 million lei, the Bucharest-based bank said in an e-mailed statement today. The bank increased the unit’s capital by 140 million lei on Feb. 29, it said at the time.

“This second capital increase of OTP Bank Romania in 2012 is a confirmation of our shareholders’ trust in the company’s stability and healthy development strategy,” Laszlo Diosi, the chief executive officer of the unit, said in the statement. “The decision is also proof that the bank is strengthening its position on the local market.”

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

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

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