Hungarian cbank recommends OTP take precautions due to presence in Russia

OTP Bank Nyrt.

29/05/2024 17:15

BUDAPEST, May 29 (Reuters) - The Hungarian central bank
has recommended that OTP Bank take several precautionary
measures related to its Russian unit, the central bank said on
Wednesday.
    It said risks may arise from Russian activity due to
sanctions on Russia and different compliance regulation, so the
bank should draw up an action plan approved by its board of
directors and report on its implementation regularly.

 (Reporting by Gergely Szakacs, Writing by Anna
Wlodarczak-Semczuk, Editing by Timothy Heritage)
 ((anna.wlodarczak@thomsonreuters.com;))