OTP Bank pulls out of Romanian brokerage market
OTP Bank Romania, a unit of Hungary's OTP Bank, will discontinue its brokerage operations, Romania's Mediafax news agency said on Wednesday.
OTP Bank Romania brokered deals worth RON 68.3 million (€15.3 million) in January-November, giving it a paltry 0.37% share of turnover on the Bucharest Stock Exchange. OTP Bank Romania launched its brokerage business in October 2009. This year ING Bank and UniCredit CAIB have also pulled out of the brokerage market in Romania because of low turnover.
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