OTP Bank Nyrt’s priorities in 2007 will be continual territorial expansion, in addition to supplementing the universal bank offer on the segments of mortgage credits, cards, investment funds and bank-assurance products, according to the plans announced by the parent bank in Budapest.
In the next three years, the Romanian branch will continue to focus on its individual clients, as well as on small and medium-sized enterprises, while its involvement in the field of corporate banking is expected be „limited”. The Hungarians see the consumer finance segment as having the biggest local potential followed by mortgage funding, transactions & deposits, and investment & insurance products. OTP Bank Nyrt's objectives also include the cost-efficient development of the network and building a financial group structure.
OTP is currently in an advanced stage of „expansion”, with the next step focussing on attracting clients and on stimulating demand for its products and services with the help of a solid sales force and an aggressive advertising campaign. In the current development stage the bank still has to work on supplementing its product range (basic mortgage funding included), developing its consumer credit portfolio, centralizing back-office functions, developing private banking and brokerage services in retail, launching electronic distribution channels, and last but not least, gaining a share of the market.
OTP Bank Hungary took over a portfolio of mortgage credits worth €22 million from the Romanian branch pressured by NBR's (National Bank of Romania) regulations regarding foreign currency funding. (zf.ro)