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OTP Bank Rt named Károly Szász, the former president of the State Financial Supervisory Authority (PSZÁF), as chief executive officer of its Serbian unit, Niska banka a.d.Szász, who joined OTP as an adviser to Sándor Csányi, the bank's chairman and CEO, in August 2004, was fired from the regulator after the Hungarian government in 2003 rejected the watchdog's annual report for the first time.
OTP's appointment of a new CEO for Niska banka comes after it completed the acquisition of the Serbian bank. Budapest-based OTP transferred the €14.2 million purchase price to the Serbian government today, the bank said.