OTP Bank
Also known as: OTP
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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.
Business in Russia
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.
Decision trail
Decision date 05/03/2024 · Reference ↗
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. The subsidiary bank of the Hungarian OTP in Russia has increased profits by 150 times and is expanding its business. Russian companies have begun to move en masse to the Hungarian OTP Bank from the Austrian Raiffeisenbank after the latter introduced new restrictions on currency transfers on September 2, 2024. Hungary's biggest bank, OTP Bank, boosted its business with Russia last year, helping to bolster its profits, as rival European lenders came under increasing pressure to pare back their ties with Moscow due to its war in Ukraine.
Local stats (LeaveRussia)
Status history since 2022
- 03/08/2026 — operating · Imported from KSE LeaveRussia
Exposure profile
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Energy, transport and commodity exposure, supplier/customer links in the region and sanctioned-party proximity.
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