FCI counts a new associate member in Hungary : let's welcome OTP Bank

Wednesday 23 January 2019

OTP bank Plc. is the largest Hungarian universal bank and one of the best capitalized bank in Europe. The bank has been established in 1949. In 1995 the bank’s shares have been introduced into the Budapest Stock Exchange. The state's ownership in the bank represents one single voting preference (golden) share. Currently the bank is characterized by dispersed ownership of mostly private and institutional (financial) investors. After successful acquisitions in the past years the bank became a key player in the Central and Eastern European region. Beside Hungary, OTP Group currently operates in 8 countries of the region via its subsidiaries. OTP Group provides high quality financial solutions to meet the needs of almost 18 million customers through nearly 1,500 branches, agent networks and the state-of-the-art electronic channels.

 

The factoring business has been introduced in 2013. Even in the first full year OTP Bank took over the leading position in the Hungarian factoring market and could permanently keep it with a market share of 49% in 2017. The successful entering into the factoring market has been continued by the OTP Group members. Wide range of factoring products are available in Bulgaria, in Croatia, in Romania, in Slovakia, in Montenegro and in Russia. Through FCI membership OTP Bank extends the range of export factoring products to its clients and offers to the export factors for use its market knowledge and wide corporate relationship structure in Hungary and in the regions covered by the OTP Group.