OTP Bank ceases operations in Crimea region

World

OTP Bank officials have notified local media that operations in the Crimea region of Ukraine will be ceased, effective tomorrow, due to legal uncertainty resulting from the political situation in the region.

An official statement sent from the bank to national news service MTI stated in part that “several Russian laws governing the operation of the financial system in the Crimea that are contradictory to the existing Ukrainian regulation have [gone into] effect.”

Bank branches based in other areas of the country will remain open, per an announcement by OTP Bank Ukraine CEO Tamás Hak-Kovács.

OTP currently operates six branch banks in the Crimea region and 140 total in Ukraine.

Number of Thefts in Capital Edges Higher in 2023 Figures

Number of Thefts in Capital Edges Higher in 2023

Magyar Drops Audio Suggesting Gov't Meddling in Corruption C... Government

Magyar Drops Audio Suggesting Gov't Meddling in Corruption C...

Popular Pain Meds Could Worsen Some Disease Symptoms Science

Popular Pain Meds Could Worsen Some Disease Symptoms

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.