OTP Bank took second place among commercial banks in the rating of primary dealers of the Ministry of Finance
OTP Bank took second place among commercial banks in the overall ranking of primary dealers for the year 2023, according to information from the Ministry of Finance of Ukraine. 11 banks - primary dealers - are included in the ranking. OTP Bank ranks fourth among state and commercial banks.
The status of a primary dealer provides the exclusive right to participate in placements of the government bonds conducted by the Ministry of Finance, both on its own behalf and for clients of individuals and legal entities, as well as banks and financial companies that do not have this status.
To remind, during 2023, OTP Bank’s individual clients purchased government bonds for a total amount of UAH 6.3 billion equivalent, and the number of transactions was 2,064.
In the fourth quarter of 2023, OTP Bank became the first and currently the only bank that provides its customers with access to a unique service - the ability to buy government bonds directly at auctions of the Ministry of Finance. This option is implemented via the OTP Bank UA mobile application. Already in December, 93.3% of clients who wanted to invest in government bonds purchased them with its help. "This tool has gained particular popularity because it offers a 100% state guarantee to return funds with interest. This is an opportunity to contribute to the support of the country's economy. When we realized the possibility of purchasing government bonds through the OTP Bank UA application, many clients began to choose this convenient way of investing money," said Valeriya Ovcharuk, product owner of OTP Bank's Private Banking.
To read more about the ability to purchase government bonds via the OTP Bank UA mobile application follow the link.
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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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