OTP Group looking at all scenarios for Russia, including possible withdrawal
MOSCOW. March 18 (Interfax) - Hungary's OTP Group is looking at all scenarios for Russia, including possible withdrawal from the market, the group said in a statement.
The group is winding down corporate lending in Russia and is not investing in government bonds, having suspended transactions with them throughout the group. OTP Bank Plc does not provide financing to its Russian unit.
"We are constantly considering whether further changes are needed regarding OTP Group's presence in Russia," the Group said.
"We are considering all possible scenarios. Among these we are analyzing the conditions and consequences of a possible withdrawal," it said.
The group is maintaining its operations in Ukraine while providing humanitarian assistance to refugees.
Russia-based OPT Bank was Russia's 45th largest bank by assets at the end of 2021, according to the Interfax-100 ranking prepared by the Interfax Center for Economic Analysis.