"OTP Group is supporting Ukraine using all means available to us. We are working under wartime conditions to keep the country's financial infrastructure, and thereby the economy as a whole, operational," the Group said in a statement this Friday.
In addition to maintaining the operations of the Group's subsidiary in Ukraine, "we are contributing to the management of the crisis with the support of millions of euros, material donations, the collection of hundreds of thousands of euros worth of humanitarian donations among our employees and clients, and the accommodation and care of 160 refugees."
OTP Group's Russian subsidiary is operating fully in compliance with the international sanctions. "We are winding down corporate lending, we do not invest in Russian government securities, and trading in such securities is suspended across the international operations of OTP Group." OTP Bank Plc. does not provide financing to its subsidiary in Russia.
"We are constantly considering whether further changes are needed regarding OTP Group's presence in Russia. We are considering all possible scenarios. Among these we are analysing the conditions and consequences of a possible withdrawal from the Russian market," the statement added.
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