Pause operations: company temporarily curtailing operations while keeping return options open

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OTP Bank Group is the largest commercial bank of Hungary and one of the largest independent financial service providers in Central and Eastern Europe and with banking services for private individuals and corporate clients.

Pause operations: company temporarily curtailing operations while keeping return options open

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Glob.Revenue, mln.USD
3413
Offices
135
Assets(RF), mln.USD
2737
Staff(RF), 2021
13300
Capital(RF), mln.USD
455

OTP Bank has a subsidiary bank in Russia. OTP Bank (Russia) is one of the Top 50 largest Russian banks, and is one of the leading retail banks. Assets are RUB 127,9 bln as of 01/07/2022, customer accounts are RUB 90.4 bln, net loans outstanding, incl. interbanks loans portfolio are RUB 102.3 bln. OTP Bank is represented in more than 135 (out of 1500 globally) locations in Russia and have more than 2.4 mln clients served by 13 300 employees.

The Company Statement
January 15, 2024

The Russian subsidiary is operating in compliance with the international sanctions. The company is winding down corporate lending. OTP Bank Plc. does not provide financing to its subsidiary in Russia (not verified + reinvesting profit is also a financing). OTP Bank has suspended transfers in US dollars. But the bank offers to convert dollars into euros for the transfer. The National Agency for the Prevention of Corruption (NACP) added the Hungarian OTP Bank to the list of war sponsors. At the end of September 2023 NACP suspended OTP Bank from the list of international sponsors of war while negotiations are underway. OTP Bank is in communication with the national agency and the European Commission in the process of implementing the exit plan from the Russian Federation.

December 06, 2023OTP Bank has stopped accepting incoming transfers in euros from countries outside the EU
October 04, 2023For the first time, a foreign bank plans to withdraw profits from Russia. OTP Bank plans to withdraw dividends for the first half of the year (10.6 billion) in favor of the parent group from Hungary.
September 29, 2023Dialogue has started: NACP suspends 5 Greek shipping companies and OTP Bank from the list of international sponsors of war while negotiations are underway
June 27, 2023ECB Urges Banks to Speed Up Plans to Exit or Shrink Russia Units
May 13, 2023Hungary threatens to block EU sanctions until Ukraine removes OTP Bank from the list of war sponsors
May 04, 2023Lending to the occupiers: NAZK included the Hungarian OTP Bank in the list of war sponsors
May 04, 2023They lend to the occupiers: NAZK included OTP Bank in the list of international sponsors of the war
May 04, 2023International sponsors of war | War and sanctions
January 10, 2023Russian subsidiaries of Raiffeisenbank and OTP Bank provide credit holidays to the Russian military
November 23, 2022OTP Bank has suspended transfers in US dollars. But the bank offers to convert dollars into euros for the transfer
November 17, 2022OTP Bank entered the top 10 best employers in the Russian's Finance and Insurance industry
March 17, 2022OTP Group supports its Ukrainian bank
January 29, 2022Banks betting on Russia face a new test of their appetite
OTP in Russia (factsheet)
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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