HomeEconomyHungarian OTP Bank called...

Hungarian OTP Bank called the sale of the Russian business reckless

Image: Getty Images

The sale of OTP Bank to Russia can only bring the Hungarian group as much money as the dividends it withdraws from Russia every year.

Hungarian OTP Bank (the parent structure of Russian OTP Bank and Ukrainian OTP Bank) receives handsome dividends from its subsidiary bank in Russia and has no plans to sell it. This was said by the head of the board of directors of OTP Group, Sandor Chani, writes Portfolio.

According to him, the sale of the Russian branch of OTP Bank in the conditions developed today means acting “stupidly.”

According to Csanyi, the sale of OTP Bank in Russia could bring the Hungarian group only as much money as the dividends it withdraws from Russia every year. At the same time, OTP Group is ready to sell its subsidiary if someone gives 50% of the market value for it.

At the same time, Chani said that OTP Group intends to participate in the privatization of Ukrainian state-owned banks and increase its presence in the market.

At the end of last year, OTP Group will pay shareholders 150 billion Hungarian forints ($410.07 million). The Russian subsidiary brought the group 50 billion forints in dividends ($136.7 million). By the end of 2024, the Hungarian group expects to withdraw up to 100 billion forints in dividends ($273.4 million) from the Russian Federation.

Let’s remember that the seven largest banks in Europe in terms of assets in the country paid more than 800 billion euros in taxes to the Russian Federation last year – four times higher than the pre-war level .

Four major Chinese banks have stopped accepting yuan from Russia
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The DPRK was promised by the “unclear” Poddjakke of Russia in the war against Ukraine

Russian military criminal, secretary of the Russian Council Sergey Shayga, visited Phogyan, where he met with Kim Jong. He promised him that the DPRK would support Russia, in particular, in the war against Ukraine. The parties discussed a joint operation in the Kursk...

In Pryluky, RF Postal House -Topl in the leader of the leader

In Pryluky, a hostile drone hit the house of the head of the local fire department. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } His family was killed: his wife,...

Russians were pushed to Constant and could be shot by a garden from artillery

The Russians have advanced towards Konstantinovka and are already shooting from artillery Ukrainian positions near the city. This is indicated in the report of the Institute of Military Research (ISW). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...