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OTP withdraws bid to purchase FM Bank

In Hungary

OTP Bank has withdrawn its bid to buy Poland's FM Bank from private equity firm Abris Capital Partners, Reuters reported yesterday. 

OTP's stated plan was to gain a foothold in a market that is more reliable than its Hungarian base and to expand its online banking business, an area where FM Bank has been an innovative player. OTP and Abris declined to comment on the development.

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