The banking group operates in 12 countries, including Serbia, has over 20 million clients and more than 36,000 employees. The integration process is currently underway Serbia and in Montenegro, while it was recently completed in Bulgaria.
OTP Group is present in Serbia through the operations of Vojvodjanska banka and OTP banka, which are currently in the process of integration that will last until 2021 which will result in the creation of one of the leading financial institutions in Serbia in terms of assets, number of branches and credit and deposit portfolio.
Last year, the OTP Group achieved a record high consolidated profit of 1.2 billion euro, while the third quarter of the current year ended with a consolidated profit of 515 million euro after tax.
“All banks in the Group have operated profitably and participated with 50% in the total profit of the Group while having an increased market share in all key segments in Hungary and Serbia”
In the third quarter of this year, total assets in Serbia stood at 5.2 billion euro with a market share of over 13%, which proves that the Group has made the right move with acquisitions and currently occupies the second position in the banking market. Up until the Q3 of this year, the Group had a net operating income of 59.6 million euro in Serbia, while the net result before taxes was 22.3 million euros. The Group’s activities are aimed at providing adequate support to individuals and businesses, and so far, Vojvodjanska banka and OTP banka have released a total of 24.5 billion dinars of the approved amount from the guarantee scheme. Despite the difficult business conditions due to the pandemic, in the third quarter, the total net loans of both banks amounted to 3.6 billion euros and thus accounted for over 16.5% with annual loan growth of almost 14%, making OTP Group the leader in Serbia in lending to businesses and individuals with a market share of 20% in the segment of mortgages and over 21% in the segment of cash loans.
The new integration of banks in Serbia creates a synergy of the best solutions for clients through a combination of tradition and innovation and is symbolically named after the brightest star in the sky “Sirius”, which also represents a binary star system consisting of two stars. During this challenging process, the most important goal for both banks will be an efficient and safe provision of services, but also supporting its employees in adapting to the new way of doing business.
OTP Group is a pioneer in digitalization and has been proactive for 25 years in the field of the digital transformation of its business and implementation of new technologies in the financial market. The strategic innovation orientation has created the possibility of working with almost 900 startup companies with 30 implemented pilot projects, while the 4th OTP Sturtup Partnership Program is underway as the most comprehensive innovation programme so fas, as all Group members, inlc. Vojvodjanska and OTP banka, are searching for startups to support their business needs.
Supporting the local community as one of the pillars of the OTP Group’s business
In order to spread the culture of innovation to the SME sector and boost the competitiveness of Serbian entrepreneurship, OTP banka, together with its partners, has been implementing the Generator project for a number of years. By investing in such initiatives, the Bank believes that it will raise awareness of the importance of digital transformation and enable the growth of small businesses in Serbia. This year’s Generator was focused on digital projects that offer opportunities for business development of small and medium-sized enterprises that have felt the consequences of the pandemic the most.
Vojvodjanska banka also nurtures its relationship with the local community and strives to operate as its active and responsible member. For twenty years, the Bank has been one of the largest sponsors and the official bank of the Olympic Committee of Serbia, which is the longest sponsorship in Serbian sports and is an excellent example of good cooperation.