Ipoteka Bank OTP Group

As of 13 June 2023, Ipoteka Bank officially became part of the international OTP Group, a leading Hungarian banking group, which acquired a controlling stake of approximately 73.7% and announced plans to acquire the remaining state-owned shares. By the end of 2024, OTP Bank Plc.’s shareholding in Ipoteka Bank increased to around 79.6%, reflecting the group’s strengthened strategic commitment to the development of Uzbekistan’s financial sector, as well as to banking modernization and digital transformation.

 

The bank ranks fifth among Uzbekistan’s banks by total assets, accounting for approximately 7-8% of the market, and serves more than 1.5 million retail customers through a nationwide network of 39 branches and over 200 service outlets.

 

Key achievements and strategic priorities include:

 

Transformation of banking operations: Following its integration into the OTP Group, the bank has evolved into a universal financial institution with a strong focus on digital banking, retail services, and tailored financial solutions for small and medium-sized enterprises (SMEs).

 

Access to international capital markets: In October 2025, the bank successfully issued eurobonds denominated in US dollars and the Uzbek soum equivalent, demonstrating strong investor confidence in both the bank and the Uzbek financial market.

 

Ipoteka Bank contributes to Uzbekistan’s broader economic development by introducing international standards of corporate governance and risk management, expanding access to banking services for households and SMEs, actively developing mortgage lending, and continuously upgrading its range of financial products and digital services to enhance customer experience.