OTP Bank Group is the largest commercial bank of Hungary and one of the largest independent financial service providers in Central and Eastern Europe and with banking services for private individuals and corporate clients. The OTP Group comprises subsidiaries in the field of insurance, real estate, factoring, leasing and asset management, investment and pension funds. The bank is present in 11 countries, namely Albania, Bulgaria, Croatia, Hungary, Moldova, Montenegro, Romania, Russia, Serbia, Slovenia and Ukraine. , OTP Group had more than 36,000 employees, 13 million clients, and over 1,500 branches. OTP is still the largest commercial bank in Hungary with over 25% market share. OTP Group started its activity in 1949 when OTP Bank was founded as a state savings and commercial bank. OTP stands for Országos Takarék Pénztár (), which indicates the original purpose of establishment of the bank. The bank went public in 1995, and the share of the state in the bank capital decreased to one preferential gold share, which also eliminated shortly thereafter. Currently most of the banks' shares are owned by private and institutional investors, which ensures stable ownership structure of the company. OTP has a high free float shareholder structure, with a free float ratio of 68.61%. The rest are held by Megdet Rahimkulov at 8.88%, Hungarian MOL Group at 8.57%, French Groupama at 8.3% and American Lazard at 5.64%. History The OTP Bank was established in 1949. The first predecessor of OTP Bank was the Pesti Hazai Első Takarékpénztár established in 1839. The predecessor of OTP Bank, called the National Savings Bank (OTP Bank) was established in 1949 as a nation-wide, state-owned, banking entity providing retail deposits and loans. Until 1987 the National Savings Bank was the only retail bank. Since 1989 the bank operated as a multi-functional commercial bank with the authorization to provide commercial loans and banking services for banks and import- export transactions. In 1990, the National Savings Bank became a public company with a share capital of HUF 23 billion. Its name was changed to the National Savings and Commercial Bank. Subsequently, non-banking activities were separated from the bank, along with their supporting organisational units. The state lottery was reorganized into a separate state-owned company and OTP Real Estate was established as a subsidiary of the bank. OTP Bank's privatization began in the year 1995. As a result of 3 public offers along with the introduction of the bank's