OTP Bank
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OTP Bank Plc.
(Budapest:OTP)
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Nádor u. 16 H-1051 Budapest, Hungary Tel. +36-1-473-5457 Fax +36-1-473-5751 |
Type: Public
On the web:
https://www.otpbank.hu/OTP_Portal/online/index.jsp
OTP has proven that it is here to stay, and you can take that straight to the bank. OTP Bank provides institutional, commercial, corporate, private, and retail banking in Hungary and beyond. The company and its subsidiaries offer such services as auto financing, real estate, and business loans, as well as investment, asset, and fund management and lending and deposit banking facilities. The company operates a network of about 1,400 banking offices in and around Hungary. Founded in 1949 as The National Savings Bank, OTP was originally a Hungarian state-owned bank; the company was privatized in 1990 and went public in 1995.
Officers:
Chairman and CEO: Sándor Csányi
CFO and Deputy CEO, Strategy and Finance Division: László Bencsik
Deputy CEO, IT and Bank Operations Division: Ákos Takáts
Competitors:
Erste Bank
Oberbank AG
Bank Austria
Wikipedia on Answers.com:
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OTP Bank
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| 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 | https://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 customers, 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)
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Contents
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History
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
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
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