Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

OTP Bank Retreats Most This Month on Greek Aid Concern

Don't Miss Out —
Follow us on:

Feb. 10 (Bloomberg) -- OTP Bank Nyrt., Hungary’s largest lender, dropped the most this month as Europe’s finance ministers held back approval of a rescue package for Greece, eroding demand for riskier emerging-market assets.

The shares fell 2.1 percent to 3,975 forint by 5 p.m. in Budapest, extending the decline this week to 3.3 percent after a 25 percent rally in January.

The MSCI Emerging Markets Index dropped as much as 2 percent today after Greek Finance Minister Evangelos Venizelos said a parliamentary vote set to begin this weekend amounted to a ballot on euro membership as the country faced further delays to an aid package.

“Investors have taken their feet off the accelerator on the domestic market,” Akos Kuti, a Budapest-based analyst at Equilor Befektetesi Zrt., and colleagues wrote in an e-mailed report today. “After it seemed last week the Greek drama would be ending, it turned out we just opened a new chapter.”

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.