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OTP still best Hungary bank, Euromoney says

OTP has retained its place at the top of Hungary's banking sector over the past year, Euromoney said in its July issue.

The London-based global financial monthly said in this year's Awards for Excellence ranking that although OTP had suffered from last year's weak performance of its holdings operating in the CEE region, its Hungarian banking operations proved remarkably resilient amid the general decline in the region.

OTP Bank's leading position remains unchallengeable in almost all segments of the domestic market. The bank's market share grew 2.5 percentage points to 26.3% last year, and OTP retained its dominant position on the retail market, holding 29.2% of retail deposits and 26.7% of retail loans, Euromoney said.

Euromoney notes that OTP also expanded in the corporate sector, which earlier was a weaker area of its operations.

OTP has been awarded the title of the best Hungarian bank in Euromoney's annual rankings for several consecutive years. (MTI-ECONEWS)