OTP banka Srbija has been proclaimed “Best bank in Serbia” at the awarding of the annual prize by world-renowned Euromoney magazine.
The “Euromoney Awards for Excellence 2022” is traditionally awarded to financial institutions providing top quality services, innovation and expertise to clients.
As a result of the successfully implemented most complex integration in the region in the midst of the pandemic, excellent business results with growing profitability, operational efficiency and healthy growth of the loan portfolio, OTP banka stood out as a leader on the banking market.
After completed integration, the Bank succeeded in maintaining and improving in 2022 its position as the largest corporate and retail creditor, as well as its leadership on the market of factoring, leasing and e-commerce services. OTP banka is highly devoted to socially responsible business and ESG principles and has positioned itself as a leader in the green transition in Serbia.
“I am extremely proud that OTP banka has been awarded this prestigious recognition for the best bank in Serbia. We are honored that Euromoney magazine has recognized the impact of our business results and strategic orientation of our activities during one of the most demanding periods for the financial market. Behind us is the most complex banking integration in the region and we have achieved excellent business results with high profitability and continuous growth in all business segments. Our competitive advantage and what distinguishes us on the banking market are client trust, determination of partners, expertise and commitment of our employees, with strong support of the parent OTP Group. This award is not just a great honor, it also implies responsibility to continue in the same direction and with the same enthusiasm in the forthcoming period,” said Predrag Mihajlovic, CEO and president of the Executive Board of OTP banka Srbija.
In addition to the recognition of OTP banka Srbija as the best bank in Serbia, “Euromoney Awards for Excellence 2022” for best bank was also awarded to OTP bank in Hungary, as well as to members of OTP Group in Bulgaria, Moldova and Albania, which proves the international expertise and leadership position in Central and Eastern Europe.
The annual Euromoney Award for Excellence was introduced in 1992 as first of the kind in the global banking industry and is considered the most important and most prestigious award in the financial sector. Due to the record number of candidates from 100 countries, the expert jury of the magazine had a particularly difficult task to select winners this year. In rendering its decision the winner, Euromoney takes into consideration financial and business indicators, the market position, quality and innovation of the offer, level of innovation and of digitalization, customer experience, socially responsible business, as well as the business strategy as a whole.
In the first quarter of 2022, OTP bank earned 33 million euros profit with 16.7% ROE, which positions OTP as a leading bank on the market. As of 31.03.2022. assets amounted to 5.78 billion euros, increasing by 10 percent in comparison to the first quarter of 2021. Regarding loans, with close to 4.5 billion euros in the first quarter of this year, the Bank has retained the first position on the Serbian market, with a 17.5 percent share.
As part of OTP Group, OTP Leasing Srbija – a leader on the leasing market in our country, also operates in Serbia, as well as OTP Osiguranje, which provides life insurance services through OTP bank. In the first quarter of 2022, OTP Leasing retained its leading position on the market, with a growth of new production of 17.4 percent year-on-year and total financing amounting to 24.4 million euros worth of new placements, which is 20.2 percent of the market share in the new production.