Assets in OTP Bank’s long-term investment accounts (TBSz) and pension savings accounts (NyESz) have grown to more than HUF 209 billion, deputy-CEO Antal Kovács told journalists on Thursday.
There was more than HUF 86 billion on OTP Bank’s 29,000 TBSz accounts and some HUF 123 billion on almost 47,000 NyESz accounts at the end of March, Kovács said. The NyESz accounts were introduced in 2006 and the TBSz accounts in 2010.
Hungarians pay a preferential tax or no tax on yields of TBSz accounts. Yields on NyESz accounts are tax-exempt, and the state offers an income tax rebate on deposits into the accounts.
OTP Bank controls about 35% of the market for NyESz accounts.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
