OTP Bank Romania, the local subsidiary of the Hungarian financial group OTP, announced that it increased its share capital by RON 250 million (EUR 50 mln), in line with the bank's organic development strategy.

The capital injection accounts for a 13.6% increase in the bank's capital.

"The additional funds will ensure a comfortable capital position in the coming quarters, supporting the bank's lending activity," the bank said in a statement, Ziarul Financiar reported.

Last year, OTP Bank Romania invested significantly in the opening of new branches, increasing its digital capacity. It also revised its marketing strategy and recruited 200 new employees.

"These actions, as well as the 13% increase in the loan portfolio, call for additional capital, recently provided by the parent company," OTP Bank said.

On March 19, 2021, the General Meeting of Shareholders of OTP Bank Romania approved the share capital increase through a cash contribution from the bank's shareholder OTP Bank Nyrt (99.9999%).

andrei@romania-insider.com

(Photo source: OTP Bank)