OTP Bank

OTP Bank
OTP Bank
Type Public
Industry Finance and Insurance
Founded 1949
Headquarters Budapest, Hungary
Key people Sándor Csányi, Chairman and CEO
Products Commercial banking, Investment banking, Private banking, Asset management, Insurance, Travel
Website www.otpbank.hu

OTP Bank is the biggest commercial bank in Hungary, operating in Central and Eastern Europe. The bank provides universal financial services for more than 13 million costumers, through nearly 1500 branches in 9 countries.

The predecessor of OTP Bank, called the National Savings Bank (OTP Bank) was established in 1949. OTP stands for Országos TakarékPénztár (National Savings Bank) which indicates the state-owned origin of the bank.

Ownership share: Domestic shareholders: 29.1%, Foreign shareholders: 70.9% (At the end of 1Q 2011)



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. In the ensuing years, its activities and the scope of its authority gradually widened. First, it was authorised to enter into real estate transactions. Later, its role was extended to provide domestic foreign currency accounts and foreign exchange services; there was a subsequent diversification into providing banking services for Hungarian municipalities. Since 1989, the bank has operated as a multi-functional commercial bank. In addition to continuing its previous retail and municipal activities, the bank has been authorised to solicit corporate loan accounts and deposits, and to provide commercial loans and banking services for correspondent banking and export-import 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 reorganised into a separate state-owned company and OTP Real Estate was established as a subsidiary of the bank.

OTP Bank's privatisation began in 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 realisation of its own privatisation process, OTP Bank started its international expansion targeting countries in CEE region, which offer great economic growth potentials similar to that of its domestic market.

OTP Bank has completed several successful acquisitions in the past years, becoming a key player in the region. Besides Hungary, OTP Group currently operates in 8 countries of the region via its subsidiaries: in Bulgaria (DSK Bank), in Croatia (OTP banka Hrvatska), in Romania (OTP Bank Romania), in Serbia (OTP banka Srbija), in Slovakia (OTP Banka Slovensko), in Ukraine (OTP Bank JSC), in Montenegro (Crnogorska komercijalna banka) and in Russia (OAO OTP Bank).

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 crossell their financial and insurance products. Groupama S.A. has acquired 8% of shares of OTP Group.

OTP Group provides high quality financial solutions[clarification needed] to meet the needs of more than 13 million costumers through almost 1500 branches and the electronic channels.[citation needed]

OTP Group

OTP Bank in Croatia
OTP Bank in Moscow, Russia

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

  • OTP Bank Rt.- Universal Bank
  • Merkantil Bank Ltd.- Personal Loans
  • Merkantil Car Ltd.- Auto Leasing
  • Merkantil Lease Ltd.- Leasing
  • OTP Building Society Ltd.- Savings Bank
  • OTP Mortgage Bank Ltd.- Mortgage Bank
  • DSK BANK EAD, BULGARIA - Universal Bank
  • OTP Banka Slovensko, a.s.- Universal Bank
  • OTP Bank Romania SA- Commercial Bank
  • OTP banka Hrvatska- Commercial Bank
  • OTP Fund Management Ltd.- Investment Fund
  • OTP Real Estate Fund Management Ltd.- Investment Fund
  • Hungarian International Finance Ltd.- International Financing
  • OTP Real Estate Ltd.- Construction and sale of properties
  • OTP Lakáslízing -
  • OTP Factoring Ltd.- Factoring, forfeiting
  • OTP Factoring Trustee Ltd.- Evaluation and sale of properties
  • OTP Pension Fund Ltd.- Pension Fund
  • OTP Health Fund- Health Fund
  • OTP Travel Ltd.- Travel Agency
  • OTP Életjáradék Rt. -

See also

External links

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • OTP Bank — Lema Confiando en los demás, (Megbízunk egymásban) Tipo Pública Fundación 1949 Sede Budapest …   Wikipedia Español

  • OTP Bank — Листинг на бирже BS …   Википедия

  • OTP Bank — Rt. Rechtsform Rt. Gründung 1949 Sitz Budapest …   Deutsch Wikipedia

  • OTP-Bank — …   Википедия

  • OTP banka Srbija — a.d. Novi Sad Type Public Industry Finance and Insurance Founded 2007 Headquarter …   Wikipedia

  • OTP — puede referirse a: Aeropuerto Internacional de Bucarest Henri Coandă (Rumanía), en su código IATA; OTP Bank (Országos Takarékpénztár és Kereskedelmi Bank Nyrt., Banco Nacional de Ahorros), un banco húngaro; Contraseña de un solo uso (en inglés… …   Wikipedia Español

  • Bank of Slovenia — Banka Slovenije (Slovene) Headquarters Ljubljana Established 25 June 1991 President Marko Kranjec Central bank of Slovenia Website …   Wikipedia

  • Bank of Cyprus — Public Company Ltd Τράπεζα Κύπρου Δημόσια Εταιρεία Λιμιτεδ Type Publicly traded limited company Traded as CSE: BOCY, Athex …   Wikipedia

  • Otp — Die Abkürzung OTP bedeutet: One Time Pad (deutsch: Einmalverschlüsselung) One Time Password, siehe Einmalpasswort One Time Programmable Open Trading Protocol, ein Netzwerkprotokoll für den Handel über das Internet Odorated Talking Pictures, ein… …   Deutsch Wikipedia

  • OTP — Technology One time programmable, a type of programmable read only memory (PROM) in electronics One time pad in cryptography One time password, an authentication mechanism, usually in computer security Open Telecom Platform, standard open source… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.