On the basis of Joint-Stock Company «OTP Bank» «Asset Management Company «OTP Capital» Ltd is founded

 

В«Asset Management Company «OTP CapitalВ» Ltd is founded on the basis of Joint-Stock Company «OTP Bank». A company obtained the relevant licence of the Securities and Stock Market State Commission of Ukraine on September 28th, this year.

According to OTP Bank chairman of the board, and chairman of the Supervisory board of OTP CapitalВ  Dmitry Zinkov, the decision on the company creation has been conditioned by quick growth internal stock market, substantial increase of consumer demand on investment products and by the general improvement of macroeconomic indexes of the country.

Asset Management Company (AMC) OTP Capital is the member of self-regulatory organizationВ  «The Ukrainian association of investment business», which unites domestic asset management companies, and is a part of the universal financial group - OTP Group. Shareholders of the company are Ukrainian JSC OTP Bank, owning 74% of shares, and Hungarian OTP Fund Management, possessing other 26% of shares. The basic activity directions of the company are creation of investment funds and professional management of their assets to maximize long-term profitability. OTP Capital will focus on both private individuals and institutional investors – insurance companies, foreign portfolio investors.

At the moment of registration the authorized capital of OTP Capital comprised EUR 600 thousand. In 2008 its further increase to EUR 2,7 mln is planned. According to Marina Mendzebrovskaya, AMC executive director, OTP Capital intends to become one of the key players on the domestic investment market, and the total assets volume under company management in two years will exceed EUR 100 mln. «In the nearest future we plan to complete registration of two mutual funds - open «OTP Classic» and interval «OTP Balanced», and also corporate fund «OTP Dynamic», that will allow us to present to the market three different investment products», - marks Mendzebrovskaya. - «Sales of investment certificates and funds shares will be carried out via OTP Bank branch network. The bank employees are already properly trained and certified. Besides, in 2008 it is planned to create venture funds for financing housing construction with further crediting by our bank of the customers who will buy that mortgage».

OTP Bank – is the universal bank, which provides wide spectrum of the financial services for corporate and private clients. On the Ukrainian market the bank has stable reputation of the innovative banking structure, which keeps expanding business volumes and offers consumers products of the highest quality.

According to the AUB data as on the 1st of October 2007, OTP Bank is Ukraine’s 8-th largest bank in terms of assets, 7-th – in terms of loan portfolio and 10-th in terms of the capital volume. Currently, the bank services more than 180 thousand clients. Its branch network on territory of Ukraine counts on 18 branches, 52 outlets and 38 representative offices.

Published: 30.10.2007