OTP Bank Group is the largest commercial bank of

Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Cr ...

and one of the largest independent financial service providers in

Central and Eastern Europe Central and Eastern Europe is a term encompassing the countries in the Baltics, Central Europe, Eastern Europe and Southeast Europe (mostly the Balkans), usually meaning former communist states from the Eastern Bloc and Warsaw Pact in Europ ...

and with banking services for private individuals and corporate clients. The OTP Group comprises subsidiaries in the field of insurance, real estate, factoring, leasing and asset management, investment and pension funds. The bank is present in 11 countries, namely

Albania Albania ( ; sq, Shqipëri or ), or , also or . officially the Republic of Albania ( sq, Republika e Shqipërisë), is a country in Southeastern Europe. It is located on the Adriatic and Ionian Seas within the Mediterranean Sea and share ...

Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedo ...

Croatia , image_flag = Flag of Croatia.svg , image_coat = Coat of arms of Croatia.svg , anthem = " Lijepa naša domovino"("Our Beautiful Homeland") , image_map = , map_caption = , capi ...

Moldova Moldova ( , ; ), officially the Republic of Moldova ( ro, Republica Moldova), is a landlocked country in Eastern Europe. It is bordered by Romania to the west and Ukraine to the north, east, and south. The unrecognised state of Transnistri ...

Montenegro ) , image_map = Europe-Montenegro.svg , map_caption = , image_map2 = , capital = Podgorica , coordinates = , largest_city = capital , official_languages = ...

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-ei ...

Serbia Serbia (, ; Serbian: , , ), officially the Republic of Serbia ( Serbian: , , ), is a landlocked country in Southeastern and Central Europe, situated at the crossroads of the Pannonian Basin and the Balkans. It shares land borders with Hu ...

Slovenia Slovenia ( ; sl, Slovenija ), officially the Republic of Slovenia (Slovene: , abbr.: ''RS''), is a country in Central Europe. It is bordered by Italy to the west, Austria to the north, Hungary to the northeast, Croatia to the southeast, and ...

and

Ukraine Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inva ...

. , OTP Group had more than 36,000 employees, 13 million clients, and over 1,500 branches. OTP is still the largest

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with ...

with over 25% market share. OTP Group started its activity in 1949 when OTP Bank was founded as a state savings and commercial bank. OTP stands for Országos Takarék Pénztár (), which indicates the original purpose of establishment of the bank. The bank went public in 1995, and the share of the state in the bank capital decreased to one preferential gold share, which also eliminated shortly thereafter. Currently most of the banks' shares are owned by private and institutional investors, which ensures stable ownership structure of the company. OTP has a high

free float In the context of stock markets, the public float or free float represents the portion of shares of a corporation that are in the hands of public investors as opposed to locked-in shares held by promoters, company officers, controlling-interest inv ...

shareholder structure, with a free float ratio of 68.61%. The rest are held by Megdet Rahimkulov at 8.88%, Hungarian

MOL Group MOL Plc. ( hu, Magyar OLaj- és Gázipari Részvénytársaság, lit=Hungarian Oil and Gas Public Limited Company), also commonly known as MOL Group, is a Hungarian multinational oil and gas company headquartered in Budapest, Hungary. Members of ...

at 8.57%, French

Groupama Groupama an abbreviation for Groupe des Assurances Mutuelles Agricoles ( en , Group of Mutual Agricultural Insurances) is a French insurance group headquartered in Paris with operations in 10 countries. It is listed in the 2007 ICA Global 300 ...

at 8.3% and American

Lazard Lazard Ltd (formerly known as Lazard Frères & Co.) is a financial advisory and asset management firm that engages in investment banking, asset management and other financial services, primarily with institutional clients. It is the world's la ...

at 5.64%.

History

The OTP Bank was established in 1949. The first predecessor of OTP Bank was the Pesti Hazai Első Takarékpénztár established in 1839. The predecessor of OTP Bank, called the National Savings Bank (OTP 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 (golden) share. Currently the bank is characterized by dispersed ownership of mostly private and institutional (financial) investors. After the realization of its own privatization process, OTP Bank started its international expansion targeting countries in Central and

Eastern Europe Eastern Europe is a subregion of the European continent. As a largely ambiguous term, it has a wide range of geopolitical, geographical, ethnic, cultural, and socio-economic connotations. The vast majority of the region is covered by Russia, whi ...

. 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

(

DSK Bank DSK Bank ( bg, Банка ДСК, ''Banka DSK''; formerly Държавна спестовна каса, ''Darzhavna spestovna kasa'' — State Savings Bank) is a major Bulgarian bank. It has been owned by the Hungarian OTP Bank since 2003, being ...

), in Croatia (OTP banka Hrvatska), in Romania (OTP Bank Romania), in Serbia (

OTP Banka Srbija OTP Banka Srbija (full legal name: OTP Banka Srbija a.d. Novi Sad), formerly known as Vojvođanska banka, is a bank operating in Serbia, with its headquarters in Novi Sad. It is a member of Hugnarian OTP Bank Group. History The Hungarian OTP ...

), in Slovakia (OTP Banka Slovensko), in Ukraine (OTP Bank JSC), in Montenegro (Crnogorska komercijalna banka) and in Russia (OAO OTP Bank). In March 2022, due to

International sanctions during the Russo-Ukrainian War International sanctions have been imposed against Russia and Crimea during the Russo-Ukrainian War by a large number of countries, including the United States, Canada, the European Union, and international organisations following the Russi ...

, 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 A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sa ...

. 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 MKB may refer to: Business * MKB Bank, the third-biggest commercial bank in Hungary * MKB Raduga, a Russian aerospace company * MKB Fakel, a Russian government-owned aerospace defense corporation Community * Moogooru Karnataka Brahmin, a sect o ...

from German firm

BayernLB Bayerische Landesbank (BayernLB; Bavarian State Bank) is a publicly regulated bank based in Munich, Germany and one of the six Landesbanken. It is 75% owned by the Free State of Bavaria (indirectly via BayernLB Holding AG) and 25% owned by the ''S ...

. French

Axa Bank Europe Axa Bank Belgium, located in Antwerp Belgium. Axa Group’s banking arm provides retail banking to individuals, and small companies in Belgium. The bank cooperates with Axa’s local insurance company. History In June 2007, Axa Group’s manageme ...

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

. The agreement was finalized on 25 July 2019. On December 12, 2022, in

Tashkent Tashkent (, uz, Toshkent, Тошкент/, ) (from russian: Ташкент), or Toshkent (; ), also historically known as Chach is the capital and largest city of Uzbekistan. It is the most populous city in Central Asia, with a population of 2 ...

, 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.

OTP Group

The Bank hosts an international organisation called the OTP group. The several parts of the group work in different areas of business.

Gallery

File:Residential building complex. Buildings on the odd side of the Budafoki Rd from Gellert Square to Zenta Street are monuments ID 8237 - Budapest District XI., Budafoki Rd 1 (Gellert Sq. cnr).jpg, OTP Bank in

Budapest Budapest (, ; ) is the capital and most populous city of Hungary. It is the ninth-largest city in the European Union by population within city limits and the second-largest city on the Danube river; the city has an estimated population o ...

File:OTP Fiók - Andrássy út 83-85 szám, 2012.05.19.JPG, OTP Bank in

Andrássy Avenue The House of Andrássy is the name of a Hungarian noble family of very ancient lineage that was prominent in Hungarian history. The full family name is ''Andrássy de Csíkszentkirály et Krasznahorka''. ''Csíkszentkirály'' is a town in modern ...

File:OTPBank Uitz Béla Street Miskolc01.jpg, OTP Bank in

Miskolc Miskolc ( , , ; Czech language, Czech and sk, Miškovec; german: Mischkolz; yi, script=Latn, Mishkoltz; ro, Mișcolț) is a city in northeastern Hungary, known for its heavy industry. With a population of 161,265 (1 Jan 2014) Miskolc is the ...

File:OTP bank, Hajdúszoboszló.JPG, OTP Bank in

Hajdúszoboszló Hajdúszoboszló () is a town in Hajdú-Bihar county, Hungary, southwest of county seat Debrecen. It is the third largest town in Hajdú-Bihar county. Etymology The name comes from a Slavic personal name Soběslav (see e.g. Soběslav, Sob ...

File:OTP Moscow.JPG, OTP Bank in

Moscow Moscow ( , US chiefly ; rus, links=no, Москва, r=Moskva, p=mɐskˈva, a=Москва.ogg) is the capital and largest city of Russia. The city stands on the Moskva River in Central Russia, with a population estimated at 13.0 million ...

File:OTP banka.jpg, OTP Bank in

Makarska Makarska (; it, Macarsca, ; german: Macharscha) is a town on the Adriatic coastline of Croatia, about southeast of Split and northwest of Dubrovnik, in the Split-Dalmatia County. Makarska is a prominent regional tourist center, located on a ...

Croatia , image_flag = Flag of Croatia.svg , image_coat = Coat of arms of Croatia.svg , anthem = " Lijepa naša domovino"("Our Beautiful Homeland") , image_map = , map_caption = , capi ...

File:Будинок Магнера.jpg, OTP Bank in

Odessa Odesa (also spelled Odessa) is the third most populous city and municipality in Ukraine and a major seaport and transport hub located in the south-west of the country, on the northwestern shore of the Black Sea. The city is also the administrativ ...

File:OTP Bank, Bratislava.JPG, OTP Bank in

Bratislava Bratislava (, also ; ; german: Preßburg/Pressburg ; hu, Pozsony) is the capital and largest city of Slovakia. Officially, the population of the city is about 475,000; however, it is estimated to be more than 660,000 — approximately 140% of ...

Slovakia Slovakia (; sk, Slovensko ), officially the Slovak Republic ( sk, Slovenská republika, links=no ), is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the ...

File:Ipolyság037.JPG, OTP Bank in

Šahy Šahy ( hu, Ipolyság, rarely german: Eipelschlag) is a town in southern Slovakia, The town has an ethnic Hungarian majority and its population is 7,238 people (2018), with an average age of 42.5. Geography It is located at the eastern reaches o ...

File:West gate tower A- splitska banka d.d.jpg, OTP Splitska banka in

Split, Croatia )'' , settlement_type = City , anthem = ''Marjane, Marjane'' , image_skyline = , imagesize = 267px , image_caption = Top: Nighttime view of Split from Mosor; 2nd row: Cathedra ...

References

External links

* {{Authority control, state=expanded Banks established in 1949 Banks of Hungary Companies based in Budapest Companies listed on the Budapest Stock Exchange 1949 establishments in Hungary

History

OTP Group

Gallery

See also

References

External links