Awards for Excellence 2009: Hungary

OTP Bank remains the clear market leader in Hungary and despite the deepening financial crisis and recession in the country it achieved a pre-tax profit of Ft146.1 billion ($724.5 million) that exceeded analysts’ expectations and accounted for 40% of the total after-tax profits in the Hungarian banking sector in 2008 on the back of a 23.8% share of total assets. It remains by far the largest player in Hungary’s retail banking market, with 30.4% of household deposits and a 29.6% share of household loans in 2008, up 10% and 26.2% respectively on 2007. The bank is also a big player in the local government sector, accounting for a 41% share of municipality deposits and 48.1% of lending to municipalities.