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Euromoney votes OTP best bank

The UK financial journal Euromoney has picked OTP Bank Rt as the best bank in Hungary and the best small bank in Central and Eastern Europe, said the journal's July issue. Euromoney's 2005 Awards for Excellence, a global survey of the quality of banking services, said OTP Bank was possibly Eastern Europe's biggest success story. OTP Bank's profit went up by a remarkable 46% in 2004, an achievement owed in part to substantial government subsidies on home loans, and to the fact that the bank did not have to put aside significant funds for risk provision, said Euromoney.