Audio – There are enough Russian banks for everyone, says OTP
The recent global credit crunch has turned up the heat on small banks in Russia, which could present opportunities for OTP, the Hungarian bank’s Chief Financial Officer Laszlo Urban told the Reuters Central European Investment summit.
OTP remains in the market for a small Russian regional bank and expects to spend $50 million on an acquisition which could be announced as early as this year, said Urban.
While others will also be looking for targets in Russia, there will be enough for everyone, said Urban.
To read the full story on OTP’s acquisition plans, click here.