OTP Bank

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.