OTP seeks to double share in Ukrainian consumer loan market

OTP Bank, Hungary’s biggest bank, is seeking to double its share in the Ukrainian consumer – loan market this year as part of its expansion in the eastern European country. OTP, which entered Ukraine in 2006 and has subsidiaries in nine countries in central and eastern Europe, is relying on its foreign units to boost profitability as domestic operations are hampered by Hungary’s regulator policies and weaker forint. The bank plans to keep its network of branches at 155 this year.

Source: Bloomberg