BẢNG TIN REUTERS
http://uk.reuters.com/article/idUKLDE69426820101005
Hungary's OTP aims for stronger capital, expansion
BUDAPEST |
BUDAPEST Oct 5 (Reuters) - Hungary's OTP Bank OTPB.BU wants to strengthen its capital position further, while also looking at acquisition opportunities in countries including Vietnam, Chairman and CEO Sandor Csanyiits said on Tuesday.
Csanyiits said that two Hungarian banks that have no foreign owners -- OTP and FHB FHBK.BU -- had performed well in the European Central bank's stress tests, and that OTP was one of Europe's most stable banks.
"Our goal is that we want to increase this stability even at the expense of profitability, at the expense of return, that is we want to expand the capital," he said in an interview on InfoRadio. He did not elaborate.
Csanyi said that OTP, Central Europe's biggest independent bank, would continue to seek acquisition opportunities in the region and in less-developed banking markets like Vietnam.
"We seek investment opportunities in those countries also where we are present, but our market share is low: Slovakia, Serbia, Romania," he said.
OTP is also looking at targets in countries where the banking system has room for significant development, he said.
"At the moment we are looking at Vietnam and try to find an investment opportunity... The Vietnamese banking system is developing quite dynamically, the problem is that they do not really allow foreigners to enter the market," he added.
Csanyi also said that among OTP's foreign subsidiaries, the profitability of its Ukrainian unit was improving after a decline, the Russian subsidiary was performing exceedingly well, and the Bulgarian unit continued to do well.
Hungary's sluggish economy and a bank tax introduced this year is weighing on the lending activity and results of domestic banks, Csanyi said, but he added that OTP would still be among the few banks that would post a profit this year. (Reporting by Sandor Peto; Editing by Ted Kerr)
