July 18, 2013 / 7:47 AM / in 4 years

OTP shares extend losses on fx loan risk

BUDAPEST, July 18 (Reuters) - Shares in Hungary’s OTP Bank extended losses on Thursday, falling 2 percent after steep losses the previous day, pressured by news that the government is planning to overwrite foreign currency loan contracts to help indebted households, traders said.

At 0741 GMT, OTP shares were down 2 percent at 4,750 forints ($21.26) on the Budapest Stock Exchange, underperforming the blue chip index, which fell 0.8 percent. ($1 = 223.45 Hungarian forints) (Reporting by Krisztina Than)

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