In Russia, the expected requirement is that the presence of the OTP becomes smaller and smaller. The bank did a lot for this purpose, for example, the bank brought home HUF 80 billion in financing, and in addition, it brought home HUF 50 billion in dividends, with hard work, said Csányi. It looks like OTP can count on that for this year as well, and even after this year’s first quarter profit, OTP has permission to issue dividends from Russia. According to their hopes, OTP can extract up to HUF 100 billion in dividends from Russia.
They tried to sell the Russian bank, but according to the current rules, this requires presidential permission, and if someone wants to sell a bank, the state appoints an appraiser who will increase the value of the bank, and the sale price cannot be higher than 50 percent of the value. A voluntary tax must be paid from the remaining 50 percent.
According to Csányi, OTP could bring home as much money by selling the bank as it would in one year from dividends. According to the bank manager, the sale of the bank would be pointless in this way.
If anyone brings a buyer where OTP receives 50 percent of the value of the bank at the end of the sale, OTP will sell the bank there, said Sándor Csányi.
