TASHKENT, Uzbekistan, March 7. Hungary’s OTP Bank discussed plans to launch a new mobile banking platform in Uzbekistan, Trend reports via the Ministry of Investment, Industry and Trade of Uzbekistan.
The issue was reviewed during a meeting between Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov and László Wolf, Deputy CEO and Member of the Board of OTP Bank.
According to the bank, the new platform is aimed at expanding digital banking services in Uzbekistan and improving customer convenience through modern mobile solutions.
During the talks, the parties also discussed OTP Group’s plans for the further implementation of the privatization project of Ipoteka-bank, which was acquired by the Hungarian banking group as part of Uzbekistan’s banking sector reform program.
Particular attention was given to the implementation of a poultry cluster project in the Syrdarya region. It was noted that the project is expected to strengthen food security, develop modern agro-industrial infrastructure, and create efficient agricultural value chains.
Following the meeting, the sides confirmed their mutual interest in expanding investment cooperation and implementing new joint projects in Uzbekistan.
OTP Group is a banking and financial group headquartered in Hungary. The group operates 1,656 branches, serves more than 17 million clients, and employs around 41,000 people. Its total assets amount to 102 billion euros, with a market capitalization of about 12.4 billion euros and a return on equity of 9.8%.
In December 2022, OTP Bank signed an agreement in Tashkent to acquire 100% of shares of Ipoteka-bank from the Ministry of Finance of Uzbekistan, which owned 97% of the bank’s total share package.
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