The aggressive development strategy has allowed Piraeus Bank to exceed the Hungarian OTP Bank group on the Romanian market. “Market share is not our priority. The rise of retail and corporate activities will allow us to become profitable in 2008,” said Diosi Laszlo, General Manager of OTP Bank Romania.
OTP Bank losses in Romania dropped some seven-fold in the first quarter of 2008, compared to negative results posted in Q1 2007. The bank’s assets increased in Q1 by 11.5 percent compared to the end of 2007.
Laszlo estimates a 17-18 percent rise in assets this year. OTP Bank’s market share in terms of loans increased 0.1 percent compared to the end of 2007.
