Category: Banks. Country: Hungary.
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. The bank has subsequently developed into a universal financial and related services group. Main members of the OTP Group include: OTP Mortgage Bank Ltd. Merkantil Bank Ltd. Merkantil Car Ltd. OTP Building Society Ltd. DSK Bank EAD (Bulgaria). OTP Banka Slovensko, a.s. (Slovakia) . OTP Bank Romania S.A. (Romania) . OTP banka Hrvatska (Croatia). OTP Garancia Insurance Ltd. OTP Fund Management Ltd. OTP Real Estate Ltd. OTP Factoring Ltd. Hungarian International Finance Ltd. OTP Pension Fund Ltd. OTP Travel Ltd. 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. The Bank managed to significantly improve its efficiency and profitability figures by performing the developments required to maintain its market position. As a result of the preceding years' efforts, the OTP Bank has been transformed into a highly profitable, efficient corporate group that is able to meet the financial service needs of retail, corporate and institutional clients at a high level of quality and profitability.
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