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OTP to own more than half of Hungary's ATMs

OTP Bank Rt will own more than half of Hungary's 3,400 automated teller machines after taking over 300 ATMs operated by Euronet Worldwide Inc., Világgazdaság reported citing no one.

 

 

 

 OTP, which has 1,500 cash machines, will jointly operate Euronet's machines from Sept. 12, the newspaper said. Banks in Hungary charge between FT 250 ($1.10) and Ft 500 for withdrawing cash using another lender's bank card, while customers pay a fraction of that at their own bank, the newspaper reported. Budapest-based OTP, eastern Europe's largest lender by market value, has more than twice the assets of its closest competitor on the Hungarian market, K&H Bank, a unit of Belgium's KBC Group NV.