Stability and Renewal in the Management of OTP Bank

Stability and Renewal in the Management of OTP Bank

At the initiative of Dr Sándor Csányi, OTP Bank Plc.'s Board of Directors has decided to separate the functions of Chairman and CEO of OTP Bank. After thirty-three years of serving as both Chairman and CEO, Dr Sándor Csányi will continue as Chairman of the Board of Directors of OTP Bank, while Péter Csányi, Deputy CEO and Head of OTP Bank's Digital Division as well as a member of the Board of Directors, will assume the role of CEO. From May, András Sebők, formerly a partner at McKinsey&Company, will take over the position of OTP Bank's Digital Head.

At OTP Bank’s Annual General Meeting on 25 April 2025, Dr Sándor Csányi, Chairman and CEO of OTP Bank, formally informed the shareholders that on his initiative the Board of Directors has separated the functions of Chairman and CEO of OTP Bank Plc. effective of 1 May 2025. Dr. Sándor Csányi, as Chairman of the Board of Directors, will remain responsible for the strategic direction of OTP Group, including defining growth and development strategies and overseeing the appointment and dismissal of members of the management and heads of the subsidiary banks.

Péter Csányi, Deputy CEO of OTP Bank's Digital Division and member of the Bank's Board of Directors, will assume the role of CEO from 1 May 2025, with the approval of the National Bank of Hungary.

Péter Csányi joined OTP Bank in 2016 as Managing Director of the Digital Sales and Development Directorate. Between 2019 and 2021 he managed and oversaw the agile development and operations. Since March 2021 he has served as Deputy CEO and Head of the Digital Division of OTP Bank, and since April 2021, he has been a member of the Board of Directors of OTP Bank. Since 2020 he has served as Chairman of the Supervisory Board of OTP Banka d.o.o., Croatia, member of the Supervisory Board of OTP Mobil Plc. member of the Board of Directors of PortfoLion venture capital company, Head of the Digitisation Working Group of the Hungarian Banking Association, member of the Mastercard European Advisory Board and Vice President for Digital Transformation of the Association of Digital Enterprises.

Péter Csányi obtained a Bachelor degree of Economics from City University of London in 2006, followed by a Master of Finance from IE Business School in Madrid in 2007 and a Master of Business Administration (MBA) from Kellogg School of Management in 2015. His professional career began in 2006 at Merrill Lynch in London. From 2007 to 2011, he worked an analyst and then as a financial advisor in the corporate finance area at Deutsche Bank in London. Between 2011 and 2016, he worked as a senior consultant at McKinsey & Company Inc., focusing on banking sector projects.

"It is a great honour to take over as CEO of OTP Bank. This elevates a tried and tested operation to a higher institutional level, as from 2023, as Chairman of the Executive Steering Committee of OTP Bank, I have coordinated a significant part of the decisions impacting day-to-day operations. I expect that as CEO I will be able to contribute to even faster and higher quality decision making for efficient operations, as from now on the separation of operational and strategic management will allow better management focus." - said Péter Csányi at the OTP Bank General Meeting on his appointment as CEO.

Dr Sándor Csányi has led OTP Bank as CEO since 1992. Under his leadership, OTP Group has achieved remarkable success across Central and Eastern Europe. OTP's market capitalisation has increased over 200-fold, while the company has achieved unparalleled international expansion. Today, OTP Group serves 17 million customers in 11 countries with 40,000 employees. Its total assets exceed €100 billion, its profitability is outstanding, while the Group’s stability ranks among the best in Europe. The achievement of his 33-year leadership is well reflected in OTP Bank's ranking as the fourth most crisis-resilient bank in the continent based on the latest European Banking Authority’s stress test, and OTP Bank also ranked first in Europe in S&P Global Market Intelligence's 2024 Financial Efficiency Ranking, based on objective measurements.

"I will continue to lead OTP's active strategy in the coming years as Chairman of the Board of Directors. I see great potential in further growth via acquisitions and the digital and traditional technological improvements to increase our efficiency, and the direction of these will continue to be decided by the Board of Directors. Over the past nine years, under Péter Csányi's leadership, OTP Bank has strengthened its digital leadership and over the past year and a half, as Chairman of the Bank's Operational Management Committee, he has demonstrated his ability to steer OTP Group's operations safely in turbulent environments." - said Dr Sándor Csányi at the announcement to OTP Bank shareholders.

András Sebők who will take over as the Head of Digital Division in May, who comes to OTP from McKinsey bringing significant management knowhow and a strong IT background as well as 14-year banking and 8-year consulting experience.

Prime Minister, Viktor Orbán attended the General Meeting of OTP Bank Plc, where he praised the achievements of Dr Sándor Csányi, who stepped down from the role of CEO, and was the first to congratulate Peter Csányi on his appointment as CEO.

About OTP Group

OTP Group is one of the fastest growing and one of the leading banking groups in the Central and Eastern European region, with outstanding profitability and a stable capital and liquidity position. With nearly 40,000 employees in now 11 countries of the CEE and Central Asian region, the Group provides universal financial services 17 million customers. As the most active consolidator in the banking sector of the Central and Eastern European region, the Group has successfully acquired and integrated 25 banks since the early 2000s. OTP Group is headquartered in Hungary and has a diversified and transparent ownership structure. The Banking Group has been listed on the Budapest Stock Exchange since 1995.