The portal lrt.lt announced on Tuesday that Hungary’s largest commercial bank, “OTP Bank,” has 2 million clients in Russia, where it provides retail banking services.
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“OTP Bank” representatives explained to the portal that they had been looking for opportunities to withdraw from the country continuing the war in Ukraine, but could only sell the business for about 5 percent of its market value.
The Hungarian bank also operates in Ukraine.
It was announced on Monday that “OTP Bank” is acquiring “Luminor” bank, which operates in the Baltic States.
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The Estonian publication “Postimees” inquired about how many billions of euros “Luminor” might have been sold for.
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