The NAP included the Hungarian OTP Bank in the list of international sponsors of the war. Loans of the military of the Russian Federation
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The National Agency for the Prevention of Corruption (NAPK) included the Hungarian OTP Bank in the list of international sponsors of the war. This was reported by the press service of the NAPK.
Photo: finance.ua 9
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The decision was taken due to the position of the bank’s management to continue operations in Russia and the actual recognition of the so-called Donetsk and Luhansk “people’s republics”.
OTP is one of the 50 largest banks in Russia and serves more than 2.2 million clients. Represented in more than 1,850 localities of the terrorist state, emphasizing its importance for the economy of Russia, which is struggling with sanctions and trying to circumvent them, they indicate in the NAPK.
According to OTP Group’s 2021 report, the Russian bank’s net profit amounted to HUF 37.6 billion ($116.5 million), or 7.6% of the group’s total profit.
According to available information on financial results, the Russian OTP Bank received 113 million rubles in profit in 2020 and paid about 190 million rubles in profit tax to the budget of the aggressor country.
Read: NAPK included Raiffeisen Bank in the list of sponsors of the war
The NAPK notes, with reference to open sources, that the bank also provides preferential terms of lending to the Russian military.
Russians called up for military service by mobilization or contract, as well as their families, can submit an application for deferment of payments on loans and loans. At the same time, the banks refer to the law of the Russian Federation dated October 7, 2022 No. 377-FZ, practically recognizing the so-called Donetsk and Luhansk “people’s republics”.
“Thus, by continuing the financial operations of the Russian branch, OTP Group clearly demonstrates support and sponsorship of terrorism,” the NPC said in a statement.
OTP Bank has already become the 24th company that the NAPK included in the list of international sponsors of the war.
Source: Ministry of Finance
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