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Hungary OTP says it bought 3.629 mln own shares

Fri Oct 10, 2008 11:21am EDT

BUDAPEST, Oct 10 (Reuters) - Hungary's OTP Bank OTPB.BU bought 3.629 million of its own shares on the Budapest bourse on Friday at an average price of 3,463 forints, it said in a statement.

OTP bought the shares, which represent a 1.3 percent stake, for 12.6 billion forints ($68.49 million), based on a share buyback programme announced in May.

The shares of OTP, Hungary's biggest commercial bank, have been hard hit during the recent falls in equity markets in the world. OTP has shed 40 percent this month and closed at 3,600 forints on Friday, down by 6.6 percent from Thursday.

(Reporting by Sandor Peto; Editing by David Cowell)



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