The local branch is to be treated as a portfolio investment, which could lead to a sale, unless it is profitable. Other OTP portfolio investments are subsidiaries in Serbia, Montenegro, Croatia, and Slovakia. The group already announced plans to sell the Serbian and Slovak branches.
OTP group’s Chief Financial Officer, Laszlo Urban, said the branches will not be sold, as long as they are profitable, but will be subject to a periodic evaluation.
OTP Bank Romania posted losses worth €5.07 million in the first half of 2008. The Romanian market has greater potential than the Croatian and Montenegrin markets, but the Romanian branch's positioning on the local market is poorer compared to the Croatian and Montenegrin subsidiaries, even compared to OTP Bank Slovakia.
