Kafijat Shareholder Group in OTP Terminated

Banking

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The shareholder group in OTP Bank of Kafijat and MGTR Alliance has been terminated, the shareholders informed the lender on Wednesday, according to a report by state news wire MTI.

As a result, the stakes in OTP Bank held by Kafijat and MGTR Alliance both fell under the 5% disclosure threshold, the lender said in an announcement posted on the website of the Budapest Stock Exchange on Thursday.

The Kafijat shareholder group had controlled - in equal part - a 7.02% stake in OTP, the latest data on the bourse website show.

The shareholder group was the second-largest stakeholder in the lender after Hungarian oil and gas company MOL, with an 8.57% stake.

The only other shareholder with a stake exceeding 5% in OTP is the French-owned Groupama Group, holding 5.11%.

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