OTP Bank is the biggest commercial bank in Hungary, operating in Central and Eastern Europe. The bank provides universal financial services for more than 13 million customers, through nearly 1500 branches in 9 countries.
The predecessor of OTP Bank, called the National Savings Bank (OTP Bank) was established in 1949. OTP stands for Országos TakarékPénztár (National Savings Bank) which indicates the state-owned origin of the bank.
Ownership share: Domestic shareholders: 29.1%, Foreign shareholders: 70.9% (At the end of 1Q 2011)
Famous quotes containing the word bank:
“The prairies were dust. Day after day, summer after summer, the scorching winds blew the dust and the sun was brassy in a yellow sky. Crop after crop failed. Again and again the barren land must be mortgaged for taxes and food and next year’s seed. The agony of hope ended when there was not harvest and no more credit, no money to pay interest and taxes; the banker took the land. Then the bank failed.”
—Rose Wilder Lane (1886–1968)