Ipoteka Bank OTP Group
Ipoteka Bank is part of the international OTP Group and ranks fifth among the largest banks in Uzbekistan, holding a 7.6% market share in the mortgage asset sector. In addition to serving large corporate clients, the bank has 1.5 million retail customers and operates through a network of 40 branches and 123 customer service centers. Over the past three years, the bank’s assets have grown on average by 20% in its loan portfolio and 24% in its deposit portfolio annually.
OTP Group is one of the fastest-growing and leading banking groups in Central and Eastern Europe, with over 41,000 employees across 12 countries in Central Asia and Eastern Europe. The group provides universal financial services to more than 17.5 million customers.
Goals: OTP has ambitious plans for the rapidly growing Uzbek market, aiming to significantly strengthen Ipoteka Bank’s position in all key areas. By 2028, Ipoteka Bank aims to become the leader in retail lending with a market share of 20–25% and to rank third in daily banking services with a market share of 15–17%.
OTP Group: Results for the First Half of 2024
All members of OTP Group reported profits in the first half of 2024, resulting in a consolidated post-tax profit of €1.27 billion. The majority of this amount, 72%, came from group members outside Hungary. Furthermore, members outside Hungary generated 65% of the group’s half-year revenue, which totaled €1.7 billion. Performing loans played a key role in profit growth, increasing by 6% year-on-year and nearly 3% quarter-on-quarter.
With GDP growth in all the group’s countries of operation exceeding last year’s figures, OTP Bank’s management reaffirms its expectations for 2024 set at the beginning of the year.
