The sale of the Russian branch of OTP Bank under the current conditions is pointless. This is what the CEO of the banking group Sandor Chani thinks, writes Portfolio.
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According to Chani , the sale of OTP Bank in Russia can bring the Hungarian group as much money as it will withdraw dividends for the year from the same Russia.
However, OTP Group is ready to sell its daughter if someone gives 50% of the market value for him .
Csani also said that OTP Group wants to participate in the privatization of Ukrainian state-owned banks and increase its presence in the market.
According to the results of last year, OTP Group will pay shareholders 150 billion Hungarian forints ($410) .07 million at current exchange rates). The Russian daughter brought the group 50 billion forints in dividends ($136.7 million). Based on the results of 2024, the Hungarian group expects to withdraw up to 100 billion forints in dividends ($273.4 million) from Russia.
