OTP Bank looks to expand in Russia

OTP Bank is looking to expand in Russia, chairman of the lender’s Russian unit Zoltán Illés said in an interview published in business daily Kommersant on Monday. ” We now have about 160 branches, but we would like to invest more in the development of the network,” Illés told the paper. Asked whether an expansion could involve acquisitions as well as organic growth, Illes said everything would depend on price. He suggested the main focus of the Russian unit is profitability, rather than market share.

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