OTP Bank Plc

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GSL reference about the bank

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    Bank's characteristics

    General information and rating

    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    414 1 BB
    Year of foundation 1949
    History Established 1949 as Hungarian National Savings Bank. On January 1, 1991 name changed to OTP Bank Ltd. On June 12, 2006 name changed as above
    Personnel Number of employees - 7 820
    Bank’s shareholders Domestic institutional investors - 15.0%; Foreign institutional investors - 71.9%; Domestic retail investors - 6.0%; Foreign retail investors - 1.2%; Management and bank employees - 1.8%; Treasury shares - 1.5%; Government held owner (municipalities) - 0.5%; International Development Institutions - 2.1%
    Confidentiality Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

    Minimum requirements

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    0 0 No restrictions
    Transactions permitted per month There are no restrictions as to the permitted number of transactions
    Initial deposit of funds, € There are no requirements as to the initial deposit
    Minimum turnover, €/year There are no requirements as to the minimum annual turnover
    How fast payments are executed For international transfers (value date – second day), the payment instruction must be submitted to the bank from 7.45 to 10.00 (in paper form) or before 12.00 (electronically) local time, which is -2 hours Moscow time. Express payments are made same-day

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    N/A N/A N/A N/A N/A
    Distant access to the account Internet banking - OTPdirekt Electra Terminal - allows to receive via Internet the up-to-date bank information, make payments and carry out most of banking transactions. An update on account balance and transactions can also be provided over the phone (OTPdirekt automated telephone service)
    Financial products The bank offers a good variety of bank services and products for corporate and individual clients, including bank guarantees, letters of credit, financing etc
    Credit/debit cards VISA gold business card, MasterCard international business card, MasterCard domestic business card, MasterCard Unembossed business card, customs card

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    14 14 Not necessary Sketchy Current
    Visit to the bank First, the information about the client (business description, origin of wealth, turnover of goods etc) is sent to the bank for review. Once the account is preapproved, the client can visit the bank’s representative office in Moscow for completion and signing of necessary documents
    Required Completed bank forms; copy of the client’s passport; standard set of corporate documents
    Types of accounts Personal; Corporate; Current
    Opening procedure and Due Diligence It is possible to open an account without visiting the country where the bank is located
    Chances to open an account Predictable
    Business description Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed
     
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