OTP Group supports its Ukrainian bank, - OTP GRoup's announcement
OTP Group is supporting Ukraine using all means available to us. We are working under wartime conditions to keep the country's financial infrastructure, and thereby the economy as a whole, operational. In addition to maintaining the operations of our subsidiary in Ukraine, we are contributing to the management of the crisis with the support of millions of euros, material donations, the collection of hundreds of thousands of euros worth of humanitarian donations among our employees and clients, and the accommodation and care of 160 refugees.
Our Russian subsidiary is operating fully in compliance with the international sanctions. We are winding down corporate lending, we do not invest in Russian government securities, and trading in such securities is suspended across the international operations of OTP Group. OTP Bank Plc. does not provide financing to its subsidiary in Russia.
We are constantly considering whether further changes are needed regarding OTP Group's presence in Russia. We are considering all possible scenarios. Among these we are analysing the conditions and consequences of a possible withdrawal from the Russian market.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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