Euromoney: OTP Bank is the best bank in Hungary
OTP Bank is the best bank again in Hungary on the list of Euromoney. According to the prestigious financial magazine OTP Bank remains the clear market leader in Hungary and despite the deepening financial crisis and recession in the country it achieved a pre-tax profit from core operations of HUF 146.1 billion ($724.5 million) that exceeded analysts’ expectations. The Hungarian members of OTP Group had a 23.8% share of total assets in the Hungarian banking sector in 2008. It remains by far the largest player in Hungary’s retail banking market, with 30.4% of household deposits and a 29.6% share of household loans in 2008. The bank is also a big player in the local government sector, accounting for a 41% share of municipality deposits and 48.1% of lending municipalities.