Ukraine lists OTP Bank as international sponsor of war due to its activities in Russia

This was reported by the press service of Ukraine’s National Agency on Corruption Prevention (NACP).

“OTP is one of the 50 largest banks in Russia, and in a number of areas it is among the market leaders. It serves more than 2.2 million customers and is represented in more than 1,850 settlements of the terrorist state, which emphasizes its importance for the Russian economy, which is struggling with Western sanctions and trying to circumvent them,” the agency writes.

Hungary's OTP Bank is one of the leading banks in the Russian financial services market and has subsidiary banks in Russia, Ukraine, Croatia, Slovenia, Slovakia, Montenegro and Romania.

The bank ranks 2nd in the market for loans at the point of sale with a market share of 15.3%, and is eighth in Russia in the credit card market.

In 2020, the Russian OTP received RUB 113 million in profit and paid a colossal amount to the budget of the aggressor country - about RUB 190 million in income tax alone.

According to media reports, the bank also provides preferential lending terms to the Russian military. Russians called up for service and their families can apply for deferred loan payments. Banks refer to the Russian law of October 7, 2022, №377-FZ, effectively recognizing the so-called L/DPR.

On May 4, Ukraine's National Agency on Corruption Prevention added OTP Bank to the list of international sponsors of the war because of the bank's position to continue operations in Russia and the de facto recognition of the L/DPR.

• Ukraine's National Agency on Corruption Prevention added the French corporation Auchan to the list of international sponsors of Russia's war in Ukraine.

• The NACP has also added Metro Cash & Carry to the list of international sponsors of the war, as the company continues to operate in Russia.

• The NACP has also added Raiffeisen Bank International to the list of international sponsors of the war, as the company continues to operate in Russia.  

• Ukraine's National Agency on Corruption Prevention has added 24,000 people to the list of sponsors and those involved in Russia's war in Ukraine.

• On April 13, Ukraine's National Agency on Corruption Prevention added the Chinese corporation Xiaomi to the list of international sponsors of war. The reason for this decision was that the company did not leave the Russian market and still remains the leader in smartphone sales there.