When Laszlo Wolf joined OTP in 1993, the bank was controlled by the Hungarian state and undergoing a painful restructuring to prepare it for life in the private sector. Twenty-five years on, it has a balance sheet of more than €10 billion and a banking network that stretches from Russia to the Balkans.
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So how did a state-run Hungarian savings bank become a regional powerhouse? Wolf says a big factor in the group’s success was its early focus on technology.
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