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OTP Bank establishes real estate broker

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OTP Bank, Hungary's biggest commercial lender, on Monday announced the launch of a real estate broker unit called OTP Ingatlanpont.

OTP Ingatlanpont started operating last December and will have 20 offices from the middle of March.

OTP Ingatlanpont managing director György Kosztolánczy said the unit would offer real estate that was not available elsewhere.

The unit is the legal successor of OTP Fedezetkezelő, which also dealt with the purchase and sale of properties.

OTP Ingatlanpont will assist OTP Bank's developer OTP Ingatlan with sales and support the bank's leasing and life annuity activities. It aims to be among the top three real estate brokers in Hungary by year-end.

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