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OTP to offer highest price for bank

Hungary's OTP Bank Rt, eastern Europe's biggest lender by market value, expects to outbid competitors with its offer for Romania's biggest savings bank. OTP Rt, which acquired Romania's RoBank last year, is among eight European lenders that Romania said Sept. 9 have qualified to bid for Casa de Economii si Consemnatiuni, also known as CEC. Romania in 2002 rejected a bid by OTP for its biggest lender, Banca Comerciala SA, because the government said it was too small. "We didn't get any negative signs at all yet concerning OTP's participation" in bidding for CEC, OTP Deputy Chief Executive Officer László Wolf told reporters in Bucharest. (Bloomberg)