Hungary’s OTP Bank outraged that Ukraine listed it as international sponsor of war

In a statement on Friday, OTP Bank rejected the accusations of Ukraine’s anti-corruption agency (NAZK), which placed the Hungarian bank on its list of “international sponsors of war” on May 5.

OTP emphasised that it condemned all aggression against a sovereign country, including the one committed against Ukraine, and expressed its commitment to supporting Ukrainian citizens and the country’s economy. In addition to maintaining continuous service and lending activities, OTP has helped Ukraine with humanitarian aid worth a billion forints and provided long-term accommodation and care to hundreds of war refugees in Hungary.

In response to the Ukrainian anti-corruption agency’s argument that OTP Bank plays an important role in the Russian economy, the bank said that it had a market share of 0.17 percent in Russia. International banks and other companies with a significantly larger local presence were not included on the NAZK list, which in itself questions the credibility of the decision, OTP notes in the statement.

OTP Bank also dismissed the accusation that it conducted activities in the occupied territories of Ukraine, and said that it operates in full compliance with local and international legislation in all its markets, including sanction regulations. Accordingly, it duly and immediately terminated all its activities in the occupied territories in 2014.