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OTP Bank

OTP Bank
Leadership team

Dr. Sandor Csanyi (Chairman, CEO & MD of Group Governance Directorate)

Mr. Laszlo Wolf (Deputy CEO of Commercial Banking Division & Exec. Director)

Dr. Antal Gyorgy Kovacs (Deputy CEO of Retail Division & Exec. Director)

Products/ Services
Banking, Finance, Financial Services
Number of Employees
20,000 - 50,000
Headquarters
Budapest, Budapest, Hungary
Established
1949
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
OTP.F
Social Media
Overview
Location
Summary
OTP Bank Nyrt., together with its subsidiaries, provides commercial banking services to retail clients, corporations and agricultural enterprises, and private and institutional investors in Hungary and internationally. It offers current, foreign currency, securities, long term investment, and retirement savings accounts; bank and business cards; agricultural, mortgage, and housing loans, as well as overdraft facilities; and invests in government and fixed income bonds, mutual funds, mortgages, shares, and certificates, stock exchange transaction orders, investment fund shares, and government securities. The company also provides cash management services, such as domestic and international transfers, batch payments, liquidity and savings management, and financing; real estate development, leasing, and management services; wealth planning, commercial factoring, refinancing, finance lease, housing savings, fund management, and e-services; and Internet, mobile phone, SMS, telephone, and private banking services. As of December 31, 2021, it operated through a network of 1,455 branches and 4,697 ATMs. The company was incorporated in 1949 and is based in Budapest, Hungary.
History

The OTP Bank was established in 1949. The first predecessor of OTP Bank was the Pesti Hazai Els? Takarékpénztár established in 1839. The predecessor of OTP Bank, called the National Savings Bank was established in 1949 as a nation-wide, state-owned, banking entity providing retail deposits and loans. Until 1987 the National Savings Bank was the only retail bank. Since 1989 the bank operated as a multi-functional commercial bank with the authorization to provide commercial loans and banking services for banks and import- export transactions.In 1990, the National Savings Bank became a public company with a share capital of HUF 23 billion. Its name was changed to the National Savings and Commercial Bank. Subsequently, non-banking activities were separated from the bank, along with their supporting organisational units. The state lottery was reorganized into a separate state-owned company and OTP Real Estate was established as a subsidiary of the bank.

OTP Bank's privatization began in the year 1995. As a result of 3 public offers along with the introduction of the bank's shares into the Budapest Stock Exchange the state's ownership in the bank decreased to a single voting preference share. Currently the bank is characterized by dispersed ownership of mostly private and institutional investors.

After the realization of its own privatization process, OTP Bank started its international expansion targeting countries in Central and Eastern Europe. OTP Bank has completed several acquisitions in the past years. Besides Hungary, OTP Group currently operates in 8 countries of the region via its subsidiaries: in Bulgaria , in Croatia , in Romania , in Serbia , in Slovakia , in Ukraine , in Montenegro and in Russia . In March 2022, due to International sanctions during the Russo-Ukrainian War, OTP Bank stopped financing its Russian branch.2008 was milestone in OTP Bank history since it was the first time to sell one of its subsidiaries. The French Groupama S.A. acquired its insurance business line, and part of the transaction they resolved to collaborate in strategic points and cross sell their financial and insurance products. Groupama S.A. has acquired 8% of shares of OTP Group.

In April 2014, it was announced that OTP Bank was close to a deal to acquire the Hungarian MKB Bank from German firm BayernLB. French Axa Bank Europe announced in February 2016 it has entered into an agreement with OTP Bank to sell its Hungarian banking operations, which is considered as medium-sized bank in Hungary.In 2019, OTP Bank entered into an agreement to purchase MobiasBanca of Moldova. The agreement was finalized on 25 July 2019.On December 12, 2022, in Tashkent, OTP Bank signed an agreement on the privatization of 75% of the Joint-Stock Commercial Mortgage Bank "Mortgage bank". It is planned to close the deal in the first half of 2023, the amount has not yet been disclosed.

Mission
OTP Bank is committed to creating lasting value for its customers, shareholders and employees through continuous innovation, reliable products and services, and responsible risk management.
Vision
Our vision is to provide innovative financial solutions that improve the lives of our customers, communities and shareholders.
Key Team

Mr. Laszlo Bencsik (Deputy CEO of Strategy and Fin. Division and Chief Strategy & Fin. Officer)

Zoltan Tuboly (Chief Accountant and MD of Accounting & Fin. Directorate)

Mr. Pataki Sándor (Investor Relations Officer)

Dr. Balint Csere (Chief Legal Adviser & MD of Legal Directorate)

Dr. Zoard Gazmar (Managing Director of Compliance Directorate)

Zoltán Péter Nagy (Marketing & Communication Directorate and Marketing Mang.)

Mr. Imre Bertalan (MD of HR Management Directorate & HR Mang.)

Recognition and Awards
OTP Bank has been recognized for its achievements in banking and financial services, receiving multiple awards such as Best Bank in Hungary from Global Finance Magazine, Bank of the Year from The Banker, and Best Bank in Central and Eastern Europe from Euromoney magazine.
References
OTP Bank
Leadership team

Dr. Sandor Csanyi (Chairman, CEO & MD of Group Governance Directorate)

Mr. Laszlo Wolf (Deputy CEO of Commercial Banking Division & Exec. Director)

Dr. Antal Gyorgy Kovacs (Deputy CEO of Retail Division & Exec. Director)

Products/ Services
Banking, Finance, Financial Services
Number of Employees
20,000 - 50,000
Headquarters
Budapest, Budapest, Hungary
Established
1949
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
OTP.F
Social Media