Kafijat Shareholder Group in OTP Terminated

Banking

Tupungato/Shutterstock.com

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%.

ADVERTISEMENT

Wolf Theiss Advises Uniper on Sale of Gas Power Plant to Veo... Analysis

Wolf Theiss Advises Uniper on Sale of Gas Power Plant to Veo...

Fidesz-KDNP Nominates Constitutional Court Head for Presiden... Government

Fidesz-KDNP Nominates Constitutional Court Head for Presiden...

Rába Earnings Fall as Margins Squeezed Automotive

Rába Earnings Fall as Margins Squeezed

Number of Chinese Tourists in Hungary Quadruples From Pre-CO... Tourism

Number of Chinese Tourists in Hungary Quadruples From Pre-CO...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.