OTP Bank, emerging as Europe's largest independent lender, considers Russia a key growth market and will invest heavily to develop its business there, Deputy Chief Executive Laszlo Bencsik said.
Bencsik also told a press conference that the bank's strategy allowed its Ukrainian business to set out on a sustainable growth path, the first signs of which are already visible.
OTP on Friday posted a 2012 net profit that grew by almost half from 2011. Some 41 percent of the bottom line came from foreign units, chiefly from Russia.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
