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OTP Bank bank

ОТП Банк
 
Name
OTP Bank
Full name
JSC "OTP Bank"

Ranking

on 01.12.2018
Headquarter
125171, Moscow, Leningradskoe shosse, 16a/1
Banki.ru reference

The corporate history of Russia-based OTP Bank dates back to March 1994 when savings bank Germes, part of the namesake concern at that time, was founded. The bank was later transformed into Joint Stock Commercial Bank of Investment and Savings (Investsberbank, in brief). The merger between Investsberbank and Moscow-based Russian General Bank (see Memory Book), which was spearheaded by the latter’s shareholders (Novorossiysky Sea Commercial Port co-owners Alexander Ponomarenko and Alexander Skorobogatko) was wrapped up in February 2005. Investsberbank was considered to hold a more «promoted» brand in the retail deposits market, and for this reason the banks merged on its basis, and Russian General Bank’s license was cancelled. At that time the transaction was valued at $800,000. In August 2006, the bank also took over Omsk-based Omskpromstroybank and Novorossiysk-headquartered Promfinservicebank (see Memory Book) that were transformed into Omsk and Novorossiysk branches, respectively. In October 2006 Hungary’s OTP Bank* wrapped up the acquisition of a 96.4% stake in Investsberbank for as much as $477 mln. In 2008, Investsberbank ended up under the parent brand and was renamed OTP Bank.

As of November 10, 2016 Hungarian OTP Bank controlled 97.88% of the Russian lending institution’s shares, and another 1.2% stake is in the hands of Hungarian closed joint stock company MFB Invest. The remaining shares (less than 1%) are distributed among other shareholders whose stakes do not exceed 1%.

The lending institution is headquartered in Moscow, and, as a whole, the financial institution operates in more than 3,700 localities of Russia. The bank’s sales network is comprised of six branches (Saint Petersburg, Omsk, Samara, Chelyabinsk, Gukovo (Rostov region) and Khabarovsk), 27,900 consumer lending offices, 81 additional and 95 credit & cash offices, and also 50 operating offices. The bank has six representative offices in Russia. The bank’s ATM network consists of around 490 machines. As of October 1, 2016 the bank’s headcount averaged 11,130 vs. 12,079 as of start 2016.

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