Latest news

OTP Bank launched OTP Light in Birobidjan

This is the sixth branch of the new format in Far East.
OTP Light- small branches near crossroads, intensive pedestrian and traffic flow, shopping centers. OTP Light branches locate in residential areas as well. Therefore clients don’t need to spend extra time in order for reaching bank’s branches more.
OTP Light provides all standard retail products line, such as cash loans, credit and debit cards, deposits and commission products.
The branch was launched following the conception of expanding the region network in Far East. The flagship in Khabarovsk and branches in Arsenev, Ussuriysk, Blagoveshensk were opened up in December 2011. Till the end of 2012, the Far East region network will be contained more than 20 branches.
Also more than 920 points of sale cover this region.

OTP Bank takes 20% of market share in POS-lending

As of December 1, OTP Bank increased its share in the POS credit market to 20.4%. During this year the share of OTP Bank was increased by 3%. On December 1 2011, the portfolio reached Rub 38.8 bn.
In 2011 OTP Bank significantly increased the number of points of sale. On December 2011 there are more than 28 000 locations throughout Russia. Nowadays OTP Bank takes the 2nd position in this market

Mr. Illes Zoltan will take up a position of OTP Bank’s CEO

OTP Bank informs about forthcoming personnel changes. After getting needed agreements from supervisory bodies Mr. Illes Zoltan will take up a position of OTP Bank’s CEO. Mr. Illes Zoltan is a member of the Board of Directors at the moment.
According to Mr. Alexey Korovin, OTP Bank’s CEO since 2007, the bank has achieved a breakthrough in its key retail direction and become one of the most profitable and effective bank’s in Russia. OTP Bank has reached the 2nd place at pos-lending market occupying 20% share of it and the 4th place at retail cards market, as Frank Research Group ratings show. According to Kommersant newspaper ratings, OTP Bank keeps the 14th position among most profitable banks.
Chairman of the Board of Directors Mr. Istvan Hamecz says that an outstanding achievement reached by Mr. Alexey Korovin is tenfold – up to 23% – growth of bank’s share in OTP Group’s profit. This how OTP Bank become a key Group’s subsidiary.
“Mr. Illes Zoltan as a member of the Board of Directors since 2007 knows the specific characters of Russian banking market well. He is also as a supervisor of retail business of the Group and CEO of OTP Bank (Slovakia). He has played significant role achieving the retail successes is Russia. All these management advantages are aimed to reach a truly large-scale integration of Russian bank into the international banking business of the OTP Group”, - Mr. Istvan Hamecz says.

Fitch Assigns OJSC OTP Bank's RUB4bn Exchange Bonds Final 'BB' Rating

Fitch Ratings has assigned OJSC OTP Bank's RUB4bn senior unsecured exchange bond issue B0-03 a final Long-term rating of 'BB' and National Long-term rating of 'AA-(rus)'. The issue has a coupon rate of 10.50% and matures in October 2014. The bonds have put option in one year.

OTP Bank placed RUB 4 bn exchange bond series BO-03

On November 3, 2011 OJSC “OTP Bank” placed RUB 4 bn exchange bond series BO-03. It was the third consecutive RUB bond issue placed by OTP Bank in the Russian debt capital market in 2011.
The bond has a 1 year put option and matures in three years, it has semi-annual coupon payments. The bond was placed on MICEX and the final coupon rate was set by the result of book building.
Despite the challenging market conditions resulted in the correction in financial markets on the day of the book closing and a strong competition in the primary market coming from other issuers, the bond was placed in a full amount and within the targeted timeline.

The order book was formed by 25 investors and closed within the marketing range with the coupon rate set at 10.50% per annum.

VTB Capital, Citibank, Gazprombank acted as Joint Lead Managers in the transaction.
Co-arrangers: OJSC Bank ZENIT and Ron Invest (LLC).
Underwriters: OJSC «IC RUSS-INVEST», Pervobank, Russian Standard Bank, Promsvyazbank, SKB Bank, Sovcombank, SIAB.

The credit card portfolio of OTP Bank has exceeded 20 billion rubles

Credit card portfolio of OTP Bank has exceeded 20 billion rubles. This business area is one of the most successful for the bank is continuously high growth. As of January 1, 2011 the portfolio was about 13 billion rubles. The Bank is expected growth by 50% in 2011. The portfolio growth in 2010 was more than 70%.
The success of OTP Bank is a result of using new technologies and survives offered to clients, new approaches to the Portfolio Management and implementation of Campaign Management Systems.
According to Frank Research Group, OTP Bank is one of the leading positions in the credit card market in Russia.

 

Fitch affirms the ratings of OTP Bank Plc and OTP Bank (Russia)

Fitch Ratings has confirmed its support rating for OTP Bank Plc at the level of "3" and Long-term Issuer Default rating (LT IDR) for OTP Bank (Russia) at the level of "BB" (stable outlook).
Confirmation of the rating for OTP Bank (Russia) reflects strong liquidity position and capitalization, improvement in the quality of newly issued loans and good results before provisions for loan losses, which provides a significant safety margin to absorb loan losses. The ratings remain restrained by high credit risk typical of the unsecured consumer credit in the highly cyclical Russian economy and the very rapid lending growth.

OTP Bank improves credit products

On September 15, 2011 OTP Bank launched the new credit products. Now all non-purpose loans can be obtained without credit free (previously 2% of the loan amount at a time), but the minimum interest rates remain the same: “Otlichiy credit nalichnimi” is from 10.9% to 14.9% with guarantee and no guarantee for corporate clients and reliable clients served by "Corporation" and "Our people" are from 13, 9% without guarantee.
Also, OTP Bank launched two new products: "Express-credit" and "Business people".
"Express-credit" is a special product for clients who want to get loan with a minimum package of documents. The decision on a loan up to Rub 50 000 will be taken within 1 hour, a passport of the Russian Federation needed only.
The Bank maintains an individual approach to customers in determining the interest rate that allows to offer clients with good credit history the lowest rate in the market lending. The minimum interest rate for "Express-credit" is 17.9% per annum, with no commissions.
The new loan "Business people" is a special program for entrepreneurs who can obtain a loan up to Rub 200 000 without verification of income and employment. OTP Bank offers these clients to get a loan for simply, quickly and profitably as well. The minimum interest rate is17.9% and calculated individually.

OTP Bank has taken the 4th place in the credit cards market

According to Frank Research Group OTP Bank has taken the 4th place in the credit cards market. As of the 1st of August, the portfolio of credit cards is about Rub 17.3 billion. By the beginning of the year, the portfolio amounted to Rub13.9 billion.
OTP Bank has rated in the top of five market leaders since 2010. Portfolio growing was more than 70% during the last year.  This unprecedented result allowed to rise to 2 positions up compared to those of similar rating at the beginning of the year 2010. Such great result was archived by active emission of credit cards, which now exceeds more than 8.5 million units.  OTP Bank offers and launches innovative projects and the way of cards’ delivering to clients has been changed as well. Delivering with a courier improves the rate of reception, activation and utilization of credit cards.

OTP bank launched the new branch in Ulan- Ude

OTP Bank launched OTP Light in Ulan-Ude.  OTP Lights are small branches near crossroads, intensive pedestrian and traffic flow, shopping centers. OTP Light branches locate in residential areas as well. This branch has convenience open hours from 9 am to 9 pm. All standard retail products line, such as cash loans, car loans, credit and debit cards, commission products are provided there.
The network of branches in Siberian Federal District has 75 branches. Prior to opening the office in Ulan-Ude OTP Bank was presented by an extensive network of POS-lending points and credit-cash office.

 OTP Bank loans have become more accessible

Now a customer needs only a passport to get a cash loan to Rub 200 000. It is possible due to optimize product line cash loans and improved scoring system. The best credit program “Otlichniy credit nalichnimi” with individual approach to each customer has an interest rate from 10.9% in rubles (with security) and from 14.9% in rubles (without security)
The interest rate is determined individually and based on the results of the Bank assessing of the client's ability to meet payments.

OTB Bank rated one of most profitable banks

According to RosBusinessConulting (RBC), OTP Bank has awarded the 11st places in the ranking of most profitable banks in the 1Q of  2011. OTP Bank made a profit of over Rub 2 billion.
Significant net growth has associated with a number of factors which in first place the growth of key business areas. OTP Bank is the 3rd place in terms of unsecured lending, also takes the 3rd place in POS-lending market and the 4th place in the credit card market

OTP Bank launched the 2 new branches in Yekaterinburg and Krasnoyarsk

OTP Bank launched the new branches in Yekaterinburg and Krasnoyarsk. The new branches have convenience open hours for customers from 9 am to 9 pm. The full range of banking services are available there: a deposit, take and repay the loan, service of money transfer, currency exchange.
 By the end of the year 10 OTP Lights will cover Siberia and the Ural region

OTP Bank was awarded "Brand of the Year"

OTP Bank was awarded "Brand of the Year - 2010" in the category of "Financial Institutions. Products and services. Insurance” for the advertising campaign "With us simply" cash loans, credit cards and POS-loans undertaken in 2010. During the recovering of the credit market after financial crisis was particularly important to focus on brand recognition, as well as to attract potential customers of banking products.  As a result of the campaign was registered a significant increase brand awareness among the bank's target audience of 25-45 years (in Moscow it was 5,1%), loan portfolio increased by Rub 20.7 bln.
OTP Bank has been awarded “Brand of the Year” for the third time, that confirmed the high professionalism of OTP Bank’s brand-building.

"Brand of the Year / EFFIE» - the annual awarding of the most successful projects in the development and promotion of brands, which is held since 1998. "Brand of the Year / EFFIE» evaluates the projects implemented in the Russian market, guided by the requirements for effective marketing strategies throughout the world. Work contenders for the award assessed by independent experts in the field of marketing and advertising. Thus, the award is a testament not only to high trust brand consumers, but also recognition of the company in a professional environment

OTP Bank launched the soft non-purpose loan for large families

11 April 2011, OTP Bank launched the new soft non-purpose loan program for families with thee or more children.
OTP Bank has supported families with three and more children for years. Bank started the program “Large family”, charitable assistance to needy families with children, in 2009. The program "Large Family" began its work in Moscow, but was soon joined in other branches of OTP Bank.
Continuation of the CSR strategy Bank has launched a new product line for large families. Now, large families will be able to borrow up to 750 000 rubles without lamp sum payment, which previously amounted to 2% of the loan amount. The new loan is available with a surety and without bail for up to 5 years.
"We have repeatedly analyzed the statistics for loan delinquencies and came to a curious conclusion. Turns out to families with three or four children - more reliable borrowers than, a childless family. One of the reasons is that parents are very responsible including in the decision to take the loan,”- says Alexey Korovin, President of OTP Bank.

OTP Bank bonds totaling 2.5bln. listed on the MICEX Stock Exchange, “B” quotation list
 
“OTP Bank" Bonds series 02 (state registration. Number 40202766B, 15.02.2011) totaling 2.5 bln. listed on the MICEX Stock Exchange, quotation list “B”.
Closing the book on March 25, 2011, 15:00 (Moscow time). Placement of bonds on the MICEX stock exchange will take place on March 29, 2011.
Coupon rate announced by the arrangers at the book’s opening was in the range 8.5% -9.0% per annum.  And the range was decreased today to 8.25%-8.50%.
OTP Bank allocates public offering 2.5 million bonds with a par value of  RUB 1,000 each. The bond’s maturity is 3 years, the put option is not available.
The bond’s loan arrangers are VTB Capital and Citibank.

OTP Bank has launched an innovative risk assessment program

OTP Bank has changed significantly the system of risk assessment for non-purpose
loans and run the risk based pricing (the determination of the interest rate on the basis of risk assessment). This is a multi-dimensional risk assessment system, through which OTP Bank reduced risks by three times if compared to pre-crisis period, which affected a significant improvement in the quality of its loan portfolio. In addition, the borrower is assessed the credit reference bureau, as well as an automated system combats fraud. Based on an accurate assessment of individual parameters of the potential borrower, bank offers a personal loan with individual interest rate. Bank also considers the factors such as credit history, age, customer’s income, the amount of the requested loan, the borrower's place of work, etc.
"Our logic to determine the cost of credit is simple - a good borrower does not pay for bad ones. Bank considers a number of factors, including quality of its loan portfolio. Now bank uses the new system in risk management field and each borrower will be assessed individually, "- commented Sergei Kapustin, Director, Directorate of Evaluation and methodology of risk of OTP Bank.
Risk based pricing program was launched earlier this year. According to the 1,5 months pilot project period, the percentage of loans in this system, has reached 35%.
Due to this program, the minimum rate on the cash loan is only 10.9% which is an unprecedented offer in the Russian credit market.

OTP Bank has reduced to 10.9% rate on cash loans

Now the minimum interest rate is only 10.9%. The maximum loan amount is Rub750K. The new credit program includes the possibility to take loan with a surety, and without the guarantee up to 5 years. At the same time to get a loan of up to Rub100K is very easy, a customer needs only a passport. Accessible and easy - these are the basic principles of the new credit program of OTP Bank.
"Non-purpose loan can be used by a borrower for any purpose that is why the new credit program of our bank is not only profitable but also convenient. And the rate on new loans is the lowest in the market today ", - says Dmitry Sapronov, Director of Product Development Directorate of OTP Bank.

Fitch Assigns OJSC OTP Bank's RUB2.5bn Bond Series-02 'BB' Rating

Fitch Ratings-London/Moscow-28 February 2011: Fitch Ratings has assigned OJSC OTP Bank's RUB2.5bn senior unsecured bond issue series-02 with a tenor of three years an expected Long-term rating of 'BB' and National Long-term rating of 'AA-(rus)'.

OTP Bank (Russia) rated one of the “top five” in the credit card market

According to the Frank Research Group survey, OTP Bank (Russia) is rated as one of the “top five” players in the credit card market during 2010. The bank’s share in this sector has increased from 4.5% to 5.6%
It is a result of changing the product line, emission of credit cards and reorganization of the client relationship.
In addition the program “The Golden corridor” (direct credit card mailout with high credit limit) has been started as well. New services such as the ordering of credit cards by the short phone number and filling out cards in OTP Bank branches have been implemented. The Bank has started to use sms-services, IVR,  etc.
By year end, the credit portfolio was increased by 80% and equal to Rub 14.3billon. This is the highest growth for the last 4 years.

 CEO Alexey Korovin participated in a session of the FAS expert council

 Alexey Korovin participated in a session of the FAS expert council. The session of the FAS expert council took place on the 21st of January, Moscow. The main questions that were discussed are the improvement of legislation in the sphere of combating fraud and promotion of financial literacy.

OTP Bank (Russia) launched a first new format branch in Tomsk

OTP Bank launched OTP Light in Tomsk. This is the first branch of the new format in this city and in Western Siberia.
OTP Light- small branches near crossroads, intensive pedestrian and traffic flow, shopping centers. OTP Light branches locate in residential areas as well. Therefore clients don’t need to spend extra time in order for reaching bank’s branches more.
OTP Light provides all standard retail products line, such as cash loans, car loans, credit and debit cards, commission products.
At the present time, OTP Bank covers 2 700 Russian cities. OTP light combines experience, the best international practice and local needs
OTP Bank is supposed to open 10 new format branches in current year.

 The OTP Bank web-site rated as top –one  in SMO

 The internet marketing agency “Matik” has rated the OTP Bank web-site as top-one in SMO among Russian banks.
The web-sites were rated by the 5 basic SMO principles: subscribe to RSS feeds, ability to leave comments, forward news, availability of widgets and gadgets, integration with social networks and Twitter.

 The new product from OTP Bank and credit broker FOSBORN HOME

The credit broker FOSBORN HOME and OTP Bank launched a new credit product – cash loan with 13% rate in RUB. For credit arrangement to RUB 100 000 an applicant must have only a passport. The highest credit limit is RUB 200 000 and doesn’t require a security for loan.
The partnership between FOSBORN HOME and OTP Bank bases on a new access system which proved to access to bank’s systems. It makes a process of taking decision short.
For cash credit arrangement to RUB 200 000 all applicants can fill out an application form at  FOSBORN HOME web-site.
FOSBORN HOME is a first credit broker in Russia, since 2005, and provides full range of credits.

 OTP Bank participated in “iFin 2011” Forum

OTP Bank participated in XI International Forum “IFin 2011: Electronic financial services and technologies in Russia”, that took place on 8-9 February, Moscow. 
This Forum was provided by website ifin.ru, Association of Russian banks (ARB) and National Association of Securities Market Participants (NAUFOR).
Forum “iFin -2011”- one of cardinal events in Russian financial market. The points of discussion   are online and mobile banking, online trading, online payments, electronic payment products etc.

Concessional car loan from OTP Bank

 All bank clients can use an opportunity to profit by a government subsidy and use concessional car loan for new Russian cars to RUB 600 000.
Clients can choose one of the current credit products: “OTP car loan with subsidy” and “Car loan with 10% and subsidy”.
These loans are available in rubles. Maximum duration is 3 year long. The rate is reduced to 2/3 from the refinancing rate of Bank of Russia. 

More than 11 million of Russians know OTP Bank

According to Gallop Media survey, OTB Bank made success in marketing communication. The brand awareness has increased by 14% in Russia and by 30% in the Moscow region. For the period 4Q 2008-4Q2010 brand awareness has increased by 8.7%.
The highest growth is fixed in a target group 25-45 year old and equal to 90%, the index of awareness has reached 11.4%, this index has increased to 65.9% and has reached 6.8% in a target group over 40 year old.
Indicators of brand awareness in Moscow for the period from 4Q. 2008 to 4Q 2010 also seriously increased: the level of brand awareness in general for all age groups of customers increased by 106.3% and reached 13,2%. In the group 25-45 years the level of brand awareness has increased by 106.1% to 16.9%, while in the group older than 40 years - the level of brand awareness showed record growth by 107.4% reaching 11.2%.
OTP Bank has the best indicator of the growth dynamics of brand recognition for the stated period in all age groups compared to its competitors. The difference in the growth dynamics in comparison with other competitors averaged 41%!
Researcg made by Gallup M'Index Russia, Moscow, for the period 4Q 2008-4Q2010
Gallup Media is  an international research company, conducting research in the media industry, brand recognition and brand popularity.  The company also studies demand, evaluates the effectiveness of marketing and merchandising of goods and services.

 OTB Bank rated one of most profitable banks

 According to RosBusinessConulting (RBC), OTP Bank has awarded the 21st places in the ranking of most profitable banks in the first 9 months of 2010. OTP Bank made a profit of over Rub 2 billion. This profit performance was significantly higher than the financial results last year, which was Rub 324 million.
A significant increase in income of the bank associated with a number of factors, among which the growth of key business areas. According to 1 half of 2010, OTP Bank is the 3rd place in terms of unsecured lending. Also, the bank is market leader in lending to retail outlets, taking 2nd place, and the credit card market, where the bank occupies the 4 position.