OTP Bank

Location:

Hungary

Project number:

1082

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

06 Oct 1994

Status:

Completed

PSD disclosed:

07 Nov 1996

Transition Impact

As the third-largest bank in Hungary, with over 30 per cent of the country's banking assets, OTP plays an important role within the country's banking system and acts as a financial intermediary for the enterprise sector. The project will strengthen OTP's capital base and enable it to serve its corporate clients more effectively.

EBRD Finance

A subordinated loan up to the equivalent of US$ 50 million, which will form part of OTP's capital base.

Project Cost

Up to the equivalent of US$ 50 million (ECU 40 million).

Environmental Impact

The project has been classified C/0 (it does not require an environmental analysis or an environmental audit). OTP will carry out its operations in accordance with the EBRD's "Environmental Procedures for Local Banks", which provide for the integration of environmental due diligence into such banks, credit and investment appraisal processes and a requirement that borrowers comply with national and local health and safety and environmental regulations and standards. OTP will submit annual environmental reports to the EBRD.

Technical Cooperation

None.

 

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.