Are you sure?

OTP eyes Kazakhstan, Turkmenistan for expansion

OTP is satisfied with the performance of its units in Russia and Bulgaria, and it is eyeing markets in Kazakhstan and Turkmenistan, chairman-CEO Sándor Csányi said in an interview published in Wednesday's issue of Russian business daily Vedomosti.

OTP wants to preserve and increase its market share in Russia, Bulgaria, Ukraine and Montenegro, where it is already has big interests, Csányi said. In Romania, Serbia, Croatia and Slovakia, where it has a smaller share, OTP is constantly looking for new acquisitions, he added.

OTP had been looking to buy a bank in Azerbaijan and talks were progressing well until it was forced to step back from the deal because of the crisis, he said.

"At present, we are mapping markets that could be of interest to the group. This is with regard to states in the former Soviet Union and Asia. Among the possible targets are Kazakhstan and Turkmenistan. It is important for us that the market share be at least 10% and that there be sufficient stock of deposits," Csányi said.