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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.
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.
The strategic goal of OTP Group is to become the most successful universal banking group in Central and EasternEurope. In addition to our openness to innovation, the secret of our success lies in the fact that our headoffice located in the region, our nearly 70years of experience and our customer base of 18.5million enable us to properly understand and serve the needs of our customers.
