The Hungarian OTP bank did not find a buyer for Russian businesses The Hungarian banking group OTP considered the sale of a division in the Russian Federation, but was unable to find a buyer who would receive approval from the Russian authorities and offer an acceptable price, said the head of the OTP group, Peter Chaney. According to him, the bank is not ready to actually transfer its operational business to the Russian economy without adequate compensation. As an example, Chaney cited the departure of the French company Societe Generale, which, according to his estimates, left about 3 billion euros in Russia. Another factor in updating the strategy was the difficulty of withdrawing profits. Since 2022, OTP has managed to receive more than $800 million in dividends from its Russian subsidiary, but the latest payment request has not been approved. Chaney said the bank sees no signs that the situation will change soon. At the end of September, the head of the group already announced the review of the strategy in Russia, including the possibility of a complete withdrawal. OTP has been operating in the Russian market since 2006. The OTP Bank subsidiary mainly specializes in consumer loans, including POS and car loans.