OTP holds a stake of less than 10% in Ueno as a financial investment, without control or management rights, the bank told MTI.
The Hungarian lender said the investment was consistent with its conservative risk-taking policy. It represents a small fraction of OTP’s equity, which exceeds USD 18 billion, and approximately 1.5% of its annual profit of more than USD 3 bln.
Ueno previously said it had approximately 3 million customers, equivalent to around 60% of Paraguay’s adult population.
OTP said it would continue monitoring developments at Ueno.
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