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.

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