Hungarian OTP eyes Greek banks’ subsidiaries in CEE, including Romania

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Hungary’s largest lender is interested in expanding its operations. Greek banks’ subsidiaries in CEE represent a good opportunity in this respect. Thus, according to OTP Deputy CEO László Bencsik, the financial institution trusts that acquisitions opportunities will open up in countries where there are troubled Greek banks, such as Bulgaria, Romania and Serbia, but not Greece, portfolio.hu informs.

However, the bank is facing “difficult” operating environments in Russia and Ukraine, according to Bencsik, who said at the release of OTP’s report for the second quarter of 2015 that loan volumes will contract this year in the two countries.

OTP Bank registered in Romania an adjusted profit after tax of RON 5.8 million and total net assets worth RON 9.108 million without including volumes and performance of Millennium Bank Romania.

Net income recorded in the first quarter of 2015 totals RON 106.2 million, representing an increase of 23 percent from quarter to quarter and 27 percent from one year to another. Income from fees and commissions increased by 61 percent over the same period last year, reaching an absolute value of RON 14.1 million.

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