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OTP risk costs to fall below HUF 100 bln

Hungary's top lender OTP Bank may book less than HUF 100 billion ($508.5 million) in risk costs in the future if the economy normalizes, president-CEO Sándor Csányi said.

OTP booked HUF 266 billion on risk provisioning last year, up from HUF 119 billion in 2008, Csányi said.

He said the bank, which told investors last week that uncertainties over risk costs prevented it from setting a firm net profit target for the year, was also looking at a country in Asia as a potential target for expansion. (Reuters)