OTP Bank named best financial institution by Euromoney Magazine both in Hungary and the region

OTP Bank named best financial institution by Euromoney Magazine both in Hungary and the region

Once again after last year, OTP Bank won the ‘Best Bank in Hungary’ title at the Euromoney Awards for Excellence 2021 competition. OTP Bank was also awarded the ‘Central and Eastern Europe’s best bank’ title, while the Albanian, Bulgarian and Montenegrin subsidiaries of the Banking Group each received the best bank award.

OTP Bank was chosen ‘Best Bank in Hungary’ and ‘Central and Eastern Europe’s Best Bank’ at the Euromoney Awards for Excellence 2021 competition.

This year, the prestigious international financial magazine rewarded not only OTP Bank, but also three of its subsidiaries, the Albanian OTP Bank Albania, the Bulgarian DSK Bank and the Montenegrin CKB Bank: the credit institutions of OTP Group won the Euromoney Awards for Excellence 2021 Best Bank title in all three countries.

In its assessment, Euromoney highlighted OTP Bank’s excellent return on equity, successful organic and acquisition growth strategy and its contribution to bank recapitalisation in the Central and Eastern European region. The award also reflected recognition for OTP Bank’s commitment to the development of digital services and innovation as well as its customer-oriented approach.

Winning the title this year is a particularly valuable achievement in the almost 30-year history of the award in light of the truly challenging economic conditions caused by the global pandemic.

The activities of OTP Bank and its subsidiaries have been recognised in recent years by numerous Hungarian and international awards. Members of the Banking Group have won first place at Euromoney’s Country Awards category several times; however, winning at the Regional Awards is a rare honour and thus, an especially valuable accomplishment. It was in 2018 when OTP Bank was announced Best Bank of the region the last time; both then and this year it succeeded in scoring first place in an extremely close competition with a number of major participants of the region.

The Budapest-based credit institution, which has become a leading participant in the Central and Eastern European region even by European standards, serves more than 16 million customers in 11 countries by offering contemporary banking solutions. The bedrocks of its operation are stability and innovation.

More about the Euromoney Awards of Excellence

Euromoney – an international magazine focused on finance – established its Awards for Excellence in 1992, and it has assessed the financial market participants of various regions and countries each year ever since. Outstanding performance is recognised by the best of the year award. This year, Euromoney chose the winners from the submissions of almost 1,000 banks at regional and country level, of which more than 50 entrants received regional awards and almost 100 banks won country awards. Besides key financial indicators and performance, service development and innovation activity were also assessed. In addition, during the selection procedure judges consider size, scope of activity and profitability, evaluate an institution’s ability to grow and its performance relative to competitors, and examine whether the bank successfully adjusted to changing customer needs and market requirements primarily through the development of digital products and services.