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Competition Office fines OTP Bank over advertising

OTP Bank Nyrt, Hungary's largest commercial bank, was fined Ft 100 million ($461,127) by the country's Competition Office (GVH) for publishing misleading ads. Budapest-based OTP Bank published advertisements about its credit cards starting in October 2003 which may have misled customers about the terms of credit, the competition office said in an e-mailed statement yesterday. (Bloomberg)