Deals
CEO of Hungary's Top Bank Vows to Buy Five Lenders by 2019
- OTP exploiting banking consolidation in Europe, Csanyi says
- Majority of revenue to come from abroad after purchases
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Hungary’s largest commercial lender is planning at least five bank takeovers in the next two years, seeking to profit from a wave of consolidation across the industry.
OTP Bank expects to see the share of group revenue generated from outside the country rise to 70 percent after the deals from about 45 percent currently, Chairman and Chief Executive Officer Sandor Csanyi said in an interview in Budapest last week.