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OTP Bank Romania reaches 4% market share

Banking

Image by Adriana Iacob / Shutterstock.com

The Romanian unit of Hungary's OTP Bank has boosted its market share to 4% in the second year of a five-year growth program that targets 5% of the market by 2024, OTP Bank Romania CEO Gyula Fatér said on Thursday, according to a report by state news wire MTI.

The bank's loan book has expanded 16% this year, with mortgages and corporate loans performing particularly well, Fatér said. 

He added that a RON 250 million capital raise at the lender earlier in the year shows OTP Bank is committed to long-term plans in Romania.

He said OTP Bank Romania raised headcount by 300 to 1,700 during the pandemic, even as overall headcount in the local banking sector fell.

OTP Bank Romania plans to expand further and upgrade its network of branches after opening a branch in Timisoara and upgrading branches in Cluj-Napoca, Odorheiu Secuiesc, and Sfantu Gheorghe, he said. The lender also expanded its digital services, he added.

Fatér noted the importance of providing services to clients in their mother tongue.

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

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