OTP Bank of Hungary bought Ipoteka-bank

Today, on December 12, the agreement on purchase of ATIB Ipoteka-bank of Uzbekistan was signed by the Hungarian bank OTP.

The agreement was signed by the Minister of Investment and Foreign Trade Jamshid Khodjaev and Chairman and CEO of OTP Bank Sándor Čani.

Since the end of 2020 OTP Bank has been negotiating with the Government of Uzbekistan about participation in the process of privatization of the banking sector of Uzbekistan.

As a result of the negotiations last fall the parties signed a memorandum of agreement on the possible purchase of "Ipoteka-Bank". Today, the purchase agreement was signed in accordance with the terms of the deal.

At the same time the memorandum agreement between OTP Bank and the International Finance Corporation (IFC) on further cooperation in the Ipoteka-bank was signed. IFC has been assisting in the financing and transformation of the Mortgage Bank for several years.

In addition, IFC said that it will continue to support OTP Bank as a new potential shareholder and will continue mutual cooperation.

P.S. Hungarian OTP Bank (OTP Group) is one of the leading financial groups in the Central and Eastern European region with high financial growth, high profitability, stable capital and liquidity.