The central bank and financial market watchdog proposed that OTP reduce its corporate loans in Russia, keep its retail loan portfolio at current levels and reduce deposits.
OTP noted that its Russian business accounted for 4.2% of total assets at the group level in the first quarter. The Russian business has just a 0.14% market share, it added.
OTP Russia has reduced its corporate loan portfolio by 85% since the beginning of 2022, while the lender's branch network in Russia has contracted by 39%, and its headcount has fallen by 25%.
OTP Group has "significantly limited" its international payment services from and to Russia.
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