OTP Bank named Bank of the Year by The Banker

OTP Bank named Bank of the Year by The Banker

OTP Bank was awarded the Bank of the Year title in Hungary at the international competition of The Banker, the finance magazine of The Financial Times Group. The panel of judges also chose two subsidiaries of the Banking Group – DSK Bank in Bulgaria and SKB Bank in Slovenia – to be Bank of the Year in their own countries. Besides business performance, judges of the international contest also assessed the flexibility demonstrated by commercial banks in their response to the COVID-19 pandemic and their adjustment to changed client needs.

Based on the evaluation of the prestigious British journal, the Banker, OTP Bank received the Bank of the Year title in Hungary at the famed Bank of the Year Awards 2020 competition. Although this year posed an unprecedented challenge to the banking sector as a whole, financial institutions were at the forefront of providing access to key services even during this critical period, while they were also able to preserve their stability. Accordingly, besides standard financial indicators such as capital adequacy, assets, net profit, return on equity, the cost/income ratio or the ratio of non-performing loans, this year the panel of judges focused specifically on determining which banks were the most flexible in responding to the challenges posed by the coronavirus in the areas of customer service and compliance with the changing needs of customers impacted by the pandemic.

Even more so than in previous years, in 2019 OTP Bank was able to improve its market positions further in Hungary in almost all main product segments and to retain the trend of the organic and persistent growth in its market shares. In addition, in the recent period it has successfully concluded the acquisition and integration processes of several banks in the region. OTP Bank was the first bank in Hungary to switch over to the agile working method in early 2019, as a result of which its product and service developments accelerated spectacularly. Even during the pandemic, OTP Bank entered the market with several new developments, while continuing to offer undisturbed services to its customers. The credit institution regularly launches communication and promotional campaigns in order to encourage customers to take recourse to digital banking services. Thanks to its activity, new registrations for online and mobile channels grew significantly – by 12–15% per week – during the state of danger in spring 2020. The Bank introduced numerous preventive measures in its branch network and office buildings for protecting the health of its customers and employees. It supplied both the equipment and information required for successful prevention. Contributing to maintaining the stable operation of the economy, OTP Bank made a special effort to support the measures adopted by the central bank and by the Government, and offered millions of euros in aid both in Hungary and in the countries of its subsidiaries for managing the crisis situation caused by the COVID-19 pandemic.

Besides OTP Bank’s recognition in Hungary, members of the OTP Group won the Bank of the Year global accolade in Bulgaria and Slovenia as well. This year, the award went to OTP subsidiaries DSK Bank and SKB Bank.

Even in the extraordinary circumstances prevailing in 2020, DSK Bank successfully integrated Expressbank, an institution acquired in 2018. The credit institution is a major actor in the Bulgarian market; it currently serves more than 2.5 million customers and offers a full spectrum of contemporary financial products and services.

Over the past 9 years, the Slovenian SKB Bank won the Bank of the Year title 8 times at the contest of The Banker magazine. The Bank has been a member of OTP Group since 2019 and, despite the highly challenging environment and heightened competition, it was able to preserve its market positions and to remain Slovenia’s fourth largest bank with more than 200 thousand customers.

Last year, the activities of OTP Bank were recognised by numerous Hungarian and international awards. The Budapest-based credit institution, which by now has become a leading participant in the Central and Eastern European region, serves nearly 19 million customers in 11 countries by offering contemporary banking solutions. The bedrocks of its operation are stability and innovation.