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OTP to boost market share in Romania to 5% over 5 years

OTP Bank wants to increase its market share in Romania to 3% by the end of this year and 5% in five years, CEO of OTP Bank Romania Gyula Fatér said in an interview with Romanian business daily Ziarul Financiar (ZF), state news wire MTI reports.

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The paper noted that OTP Bank Romania had a market share of 2.45% at the end of 2018 and stood at ninth place among Romanian banks.

Under its five-year strategy, which it started implementing in 2019, the bank plans to invest more than EUR 209 million to double its market share mainly through organic growth. OTP plans to hire 300 new staff and expand its branch network this year, but also intends to boost client numbers through digitalization.

Fatér said the company wants to focus on organic growth but would not rule out acquisitions either.