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OTP might pay dividends in 2011

OTP Bank has not paid dividends for three years, but in 2011, if the Hungarian economy is stable, capital-adequacy ratio is high and the bank has no acquisition targets requiring capital, the bank might pay one, bank chairman Sándor Csányi said in an interview published in Wednesday's issue of the business daily Napi Gazdaság.

Although the increase of over-sixty-days non-performing debts has slowed, each announcement the government makes about protecting non-paying debtors decreases the willingness to repay such loans, Csányi said

Csányi said the decision to generally ban property-based foreign-currency loans was not a fortunate one and he himself would have retained euro-based loans. Hungary is headed towards the eurozone, so it is a natural need to have access to loans in euros. (MTI-ECONEWS)