OTP Bank Romania boosts market share to 3%

Banking

The Romanian unit of Hungaryʼs OTP Bank has boosted its market share by half a percentage point to 3% in the first year of a five-year growth program that targets 5% of the market, OTP Bank Romania CEO Gyula Fatér said at a press conference in Bucharest on Wednesday, according to a report by state news wire MTI.

OTP Bank Romania is now the countryʼs ninth-biggest lender, Fatér said. The lender opened a branch in Bucharest earlier in the year and will open a regional center in Timisoara before year-end, bringing its network to 96 branches, he added.

The bank made 200 new hires this year, raising headcount to 1,600.

Fatér said 50 of the new hires speak Hungarian, noting the importance of providing services to clients in their mother tongue.

OTP Bank Romaniaʼs geographical reach covers areas of Romania that are home to sizable populations of ethnic Hungarians.

Next year, the lender plans to open two or three more branches.

ADVERTISEMENT

New Immigration Law Could Pose Challenges for Business Leade... Analysis

New Immigration Law Could Pose Challenges for Business Leade...

Lawmakers Could Ratify Sweden's NATO Accession on Feb 26 Int’l Relations

Lawmakers Could Ratify Sweden's NATO Accession on Feb 26

'Complex Support' Required to Place Much of Labor Market Res... HR

'Complex Support' Required to Place Much of Labor Market Res...

Number of Chinese Tourists in Hungary Quadruples From Pre-CO... Tourism

Number of Chinese Tourists in Hungary Quadruples From Pre-CO...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.