OTP Bank purchased 100,000 of its own shares on August 19,the bank said on Monday.
The purchase was made in line with a resolution of the April 2011 annual general meeting which authorized the board to buy treasury shares to provide the necessary shares for the bank's remuneration policy as well as for price management purposes, among others. The stock bought for the purpose should not exceed 56,000,000 shares, or 20% of the total.
Friday's purchase was made at an average price of HUF 3,897 per share, and brought the bank's treasury share stock to 2,177,323. OTP group members held an additional 2,073,560 as of July 31. The transaction brought the group's total treasury stock to 1.52% of all shares, up from 1.48% at the end of July.