CEO: OTP Bank may buy larger bank in Russia

MOSCOW, May 12 (PRIME) -- OTP Bank, the Russian unit of Hungary’s financial group OTP, is considering a merger with another bank or a purchase of a credit portfolio, CEO Ilya Chizhevsky told in an interview with PRIME on Friday.

“The group sees the Russian market as strategic. We believe the market’s investment potential is not exhausted and we are considering M&A options,” he said.

“At the same time, we do not except portfolio investment opportunities as we have excessive liquidity and capital. We are open to both variants and work on them intensively.”

He said that a bank, larger than OTP Bank, may be acquired.

Future transactions may be made using the bank’s own funds, funds of its shareholders or both.

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