The president and CEO of OTP Bank formulated a whole series of criticisms against state and EU overregulation at the Portfolio’s top economic conference, the Budapest Economic Forum. According to Sándor Csányi, it is not worth investing in any other European bank, only in OTP, which, like Pele, is performing excellently “with lead in its shoes”. Due to the Hungarian tax environment, we are slowly getting to the point where OTP will also have to start a payment service provider outside the Eurozone, through which it can serve Hungarian customers, and the worst thing is that the government’s promises made when the taxes were introduced are usually not fulfilled – he said. It’s a strange logic that we have to introduce a 5% interest rate ceiling for home loans, but I don’t hear a word about the government assuming any inflationary obligations in return, he said, revealing that the OTP also flirted with the idea of buying Commerzbank a few years ago.
Source: www.portfolio.hu
