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Julius Baer increases stake in OTP to 5.22%

Julius Baer Holding AG, Switzerland's biggest independent money manager, increased its stake in OTP Bank Nyrt to 5.22% from 1.7%, Bloomberg reported citing a stock exchange filing published on Tuesday.

Julius Baer bought shares in OTP, eastern Europe's most profitable lender, on July 13, a statement in the Budapest Stock Exchange gazette said. The stake is worth Ft 90.7 billion at yesterday's closing price. The purchase makes Julius Baer the second largest outside owner in OTP, after Bank of New York Co., which holds 32.4% of shares.
OTP has a 6.6% stake of treasury shares and Fidelity Investments has a 5.2% stake, Bloomberg data shows.