OTP Bank will definitely leave Slovakia

The banking institution has operated in Slovakia since 2002.

The Hungarian bank OTP has confirmed it will leave the Slovak banking market in spring 2020. The Hungarian bank OTP has confirmed it will leave the Slovak banking market in spring 2020. (Source: TASR)

The Hungarian bank OTP has decided to leave Slovakia’s banking sector for good this spring. Preliminary discussions on the departure started ten years ago.

In Slovakia, the bank has been in red numbers over the last five years. The OTP, for example, reported a loss of €3.97 million in 2018, as reported by the Hospodárske noviny daily.

Related articleOTP bank leaves Slovakia. Who will acquire the bank? Read more 

In addition, it did not succeed to increase its share on the Slovak banking market. On the contrary, a number of its clients dropped from 216,000 in 2016 to 193,000 two years later.

The OTP Bank has been present on the Slovak market since 2002. It now wants to focus on the banking market in Slovenia instead.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Top stories

Oli Džupinková and her book

With her mom’s recipes, popular radio host taught Slovaks to cook Rusyn meals

Regional meals succeeded beyond community, beyond Slovakia’s borders.

21 h
Illustrative stock photo

Third doses administered in Slovakia but not for everyone at the moment

Six months must pass from the administration of the second dose, people with immunity problems an exception.

3 h

Thumbelina and Ugly Duckling, soon to be read by Rusyns in their native language

An architect decided to make a book translation and collected money via crowdfunding.

23 h
Skryť Close ad