Hungary’s OTP BANK Opens Regional Headquarters In South Serbia

Hungary’s biggest lender OTP Bank has opened a new regional headquarters in the city of Niš in Southern Serbia.  The inauguration ceremony was held in the presence of Hungarian PM Viktor Orbán and Serbian PM Aleksandar Vučić, who both expressed their hope that the Niš investment would be profitable for both parties. According to preliminary reports, the total cost of the new regional headquarters was some half a million euros.

Sándor Csányi, President and CEO of Hungary’s biggest lender OTP Bank

In his speech, President and CEO of OTP Sándor Csányi said that good Hungarian-Serbian economic relations facilitate the economic development of both countries and continued good cooperation is expected in view of the fact that the signs of Serbian economic development and growth are already visible. Sándor Csányi emphasised that OTP Bank appeared on the Serbian market ten years ago when it purchased Niska Banka (Nisi Bank), and is planning on acquiring other bank branches with which it can rise to become one of the largest banks in Serbia. OTP Bank regards Serbia as a significant target market, he said.

Mr. Csányi also told the locals about the bank, explaining that OTP was the only independent bank in Central and Eastern Europe, an autonomous bank that had not been acquired by large foreign financial institutions, in addition to which it boasts exceptional capital strength and major liquidity reserves. OTP is present in nine countries, has over 1300 branches and provides services to 12 million clients. The bank practices a conservative and cautious business policy, but at the same time is developing dynamically and has always been a frontrunner with regard to new financial services and the application of financial technologies, for instance OTP was the first to introduce mobile phone services in Serbia, he continued.

Hungary’s OTP Bank group is one of the largest financial services providers in Central and Eastern Europe. It comprise large subsidiaries, granting services in the field of insurance, real estate, factoring, leasing and asset management, investment and pension funds. The bank is serving clients in 9 countries in the region, including Serbia.

via and MTI