NACP adds OTP Bank to international sponsors of war list

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OTP Bank

The National Agency for the Prevention of Corruption (NACP) added OTP Bank to the list of international sponsors of war due to the position of the bank’s management to continue operations in russia and the recognition of the so-called Donetsk and Luhansk “people’s republics”.

OTP Bank forms the basis of the international financial group OTP (OTP Group), which is one of the leaders of the financial services market in Central and Eastern Europe according to the data of the Budapest Stock Exchange. OTP Bank has subsidiary banks in russia, Ukraine, Croatia, Slovenia, Slovakia, Montenegro and Romania.

OTP is among the 50 largest banks in russia, and in a number of areas it is among the market leaders. As it became known from the mass media, the bank also provides preferential lending conditions to the russian military. russians, called up for military service under mobilization or under contract, as well as their families, can apply for deferment of payments on credits and loans. At the same time, the bank refers to the law of the russian Federation dated 7 October 2022, actually recognizing the so-called Donetsk and Luhansk “people’s republics”.

Thus, by continuing the financial operations of the russian unit, OTP Group clearly demonstrates support and sponsorship of terrorism.

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