OTP: predator or prey?

Hungary’s OTP Bank dominates its domestic market, but can it compete with regional powerhouses such as Raiffeisen International and UniCredit, or is it in danger of being swallowed up itself? Kathryn Wells meets OTP’s long-serving chief executive, Sandor Csanyi, to find out.

Sandor Csanyi, OTP
“Our view was that the reasons used to justify selling to strategic investors were not relevant to OTP. We produce enough profit, therefore we do not need the capital”
Sandor Csanyi, OTP

OTP CHIEF EXECUTIVE Sandor Csanyi’s sons are clearly both chips off the old block. When he told them in 1992 that he was leaving his job as deputy CEO of K&H Bank to become head of then state-run player OTP, both were, he recalls, “very ashamed”.

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