A senior adviser to Lithuanian President Gitanas Nausėda has voiced confidence in the Bank of Lithuania’s oversight of OTP Bank’s activities in Russia, as the Hungarian lender moves forward with its planned acquisition of Luminor Bank.
The statement comes as scrutiny intensifies over OTP Bank’s continued presence in the Russian market.
The Budapest-based group, Hungary’s largest commercial lender, still serves approximately 2 million retail customers in Russia, a footprint that has drawn attention from regional security officials and regulators alike.
The Budapest-based group, Hungary’s largest commercial lender, still serves approximately 2 million retail customers in Russia, a footprint that has drawn attention from regional security officials and regulators alike.
The presidential adviser’s comments aim to reassure markets and policymakers that the regulatory process is robust.
The Bank of Lithuania is tasked with ensuring that the acquisition meets strict national security and financial stability criteria, particularly given the geopolitical sensitivities surrounding Russian banking operations.
This development follows earlier warnings from Latvia’s State Security Service (VDD), which alerted senior government officials last year about the potential security risks linked to OTP Bank’s Russian operations.