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OTP has also been one of the biggest success stories among regional financial institutions and their stocks in recent years, while many banks have only struggled with reducing margins due to the declining interest rate environment, OTP se has taken over the banks of the region. The banking group generated between HUF 280 and 300 billion in revenue and more than HUF 100 billion in quarterly revenue.
The exchange rate rose to higher and higher peaks, peaking at HUF 15,850 in December last year, but in mid-February this year the exchange rate rose almost until then.
Then came the coronavirus crisis, and the OTP made unprecedented provisions, and the banking group became unprofitable, the only example of which has been seen in 4 quarters since 2006, the most recent in 2015.
And the exchange rate started on the slope, in one month OTP lost almost half of its value,
This is an extremely rare event, during the OTP 2 stock race there were 2 periods where the OTP share price fell more than one spring this year during the course of OTP, the 2008 global economic crisis and the Russian crisis 1998.
OTP suffered the biggest drop in the recession on March 12, with the exchange rate falling 17.2 percent that day, the second-biggest drop in a day of all time.
If we look at it in HUF, according to the record exchange rate level earlier this year, this year’s drops were almost automatically included in the top 10 list, this year’s drop is in the top 8 .
In the month-long decline in February-March, OTP was preceded by only a few Austrian and Polish bank stocks.
While the world’s major stock exchanges reached their lowest point in mid-March and the rally has continued since then, OTP touched a low of HUF 7,865 at the end of April, however, the biggest day of increase was the 13th. March 12.3 percent. the price of OTP went up, which, however, could not even enter the top 15.
If we look at it in HUF, then of course the situation is different, 6 of the 10 biggest increases of all time were this year.
And how rare are violent movements like the ones we’ve seen this year? The gap between this year’s lows and highs was 95 percent, much larger than this, but the difference was higher than the average (89%) and median (55%) this year, and much higher than what has been added in recent years. we were used to it.
Cover Image: Akos Stiller / Bloomberg via Getty Images
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