OTP Bank Cross Currency Basis SWAP



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

21 Apr 2009



PSD disclosed:

20 Oct 2009

Project Description

The Project, which is a part of a broader cooperation with the client, consists of a Swiss Franc 500 million swap facility that for a period of time facilitates OTP to enter into medium term cross currency basis swaps between Swiss Francs and the Hungarian Forint with the Bank. The programme was created to assist OTP to lengthen the maturity profile of its existing swap book and is subject to conditions on future FX-lending.

Transition Impact

The main rationale for EBRD’s involvement in the Project is to support the currency hedging of a strong bank with a regional presence throughout Central and Eastern Europe and systemic importance in most of the markets where it operates. The transition impact of this transaction comes mainly from supporting OTP in the process of adapting its business model to the changing macroeconomic environment.

The Client

OTP Bank is the largest universal bank in Hungary and the biggest independent bank in central Europe. With almost 12 million customers in nine countries, OTP subsidiaries are among the top ten largest banks in Ukraine, Bulgaria, Croatia and Montenegro.

EBRD Finance

Cross currency basis swap with a notional amount of up to Swiss Franc 500 million.

Project Cost

Up to Swiss Franc 500 million.

Environmental Impact

OTP will conduct its business in accordance with the EBRD’s Performance Requirement 2 on Labour and Working Conditions.

Technical Cooperation


Company Contact

OTP Bank Plc, Contact: Sándor Pataki,
Tel: +36 1 473 5457
Email: patakis@otpbank.hu

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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