Economy
Euromoney says best Hungarian private banking service provider is OTP
“The award is even more valuable in a time of severe global market turbulence, which has been mitigated by the service's stability, client focus, knowledge and flexibility. Thanks to the long term strategy and successfully applied business model, OTP Private Banking was able to dynamically augment its client base and maintain its stable assets under management in 2008, despite the shocking market turmoil," OTP Bank said in a statement.
“OTP also started to implement its successful private banking business model at the subsidiaries, in order to build up a service network for the high net-worth clients in the Central and Eastern European region. Besides the locally managed HUF 460 billion for assets under management, the regional subsidiaries already provide an additional HUF 100 billion."
Euromoney, one of the leading international financial markets magazines, publishes its survey on the private banking market annually. The award for the best players is handed over after assessing a wide range of quantitative and qualitative factors, such as the scale and quality of services. The ratio of clients per relationship manager is also assessed and the measurement of business efficiency is analysed as well. The main goal of the award is to serve as a guideline for the high net-worth individuals amid the wide range of private banking service providers.
Flourishing value proposition
On the back of the wide range of banking and investment services and comfort elements, (including advisory services for the full scope of wealth management), OTP Private Banking offers one of the broadest product ranges in the Hungarian market. This implies among many that private banking clients have the possibility to arrange their enterprises through their relationship managers, clients are offered one-stop-shopping and a full range of advisory services for real estate, art collectibles, legal advice and offshore wealth management.
The value proposition is continuously expanding in line with the innovations and client demands. For the most demanding clients (who tend to be the wealthiest) OTP Prestige Private Banking offers an even more sophisticated service.
The core element of OTP Private Banking value proposition is the investment advisory and the wealth management built upon it. The bank investment product ranges are complemented with the products of well-known international partners, including BlackRock, UBS. These elements provide the possibility for the relationship managers to create a tailor made investment strategy for each and every client.
In a time of deep recession it is particularly true that the well qualified and devoted relationship managers are important assets of the bank. The experience, determination and trust implies, that the clients receive the best possible solutions under any circumstance.
Dynamically increasing client base and stable asset under management even amid turbulent times
OTP Private Banking managed to maintain its momentum last year as well, thus providing services for more than 15 000 clients, as part of the largest domestic financial institution in Hungary.
The asset under management reached HUF 460 billion at the end of last year. Despite the fact that the industry had to face the deepest financial crises of the past decades, the latter number of OTP Private Banking still shows a measurably increase compared to 2007, which was a unique performance among wealth management institutions.
Thanks to the long term strategy and the successful business model OTP Private Banking has managed to dynamically attract net new money, and retain its domestic market leader position, despite the sharp drop in almost every asset class.
The best proof of the clients' loyalty, in the most severe times, came in October 2008, when the number of new private banking clients doubled compared to the average monthly growth and reached a new peak.
Service on the Western level, locations in Eastern Europe
In order to provide premium services for the high net-worth clients at the subsidiaries, OTP Private Banking is transferring its best practice, combining it with the local conditions and requirements.
Private banking service is being built in the eight countries of OTP Group, with the aim to implement the Hungarian high level service model as a group standard. Although there is still a long way to go, there is already more than EUR 350 million of wealth managed at OTP's subsidiaries at the close of 2008.
On the back of the strong cooperation, a cross-border service network is currently being built. Whether it is Croatian real estate purchasing or Russian investment opportunities, the borders are eliminated and the regional possibilities are wide open as well.
“OTP also started to implement its successful private banking business model at the subsidiaries, in order to build up a service network for the high net-worth clients in the Central and Eastern European region. Besides the locally managed HUF 460 billion for assets under management, the regional subsidiaries already provide an additional HUF 100 billion."
Euromoney, one of the leading international financial markets magazines, publishes its survey on the private banking market annually. The award for the best players is handed over after assessing a wide range of quantitative and qualitative factors, such as the scale and quality of services. The ratio of clients per relationship manager is also assessed and the measurement of business efficiency is analysed as well. The main goal of the award is to serve as a guideline for the high net-worth individuals amid the wide range of private banking service providers.
Flourishing value proposition
On the back of the wide range of banking and investment services and comfort elements, (including advisory services for the full scope of wealth management), OTP Private Banking offers one of the broadest product ranges in the Hungarian market. This implies among many that private banking clients have the possibility to arrange their enterprises through their relationship managers, clients are offered one-stop-shopping and a full range of advisory services for real estate, art collectibles, legal advice and offshore wealth management.
The value proposition is continuously expanding in line with the innovations and client demands. For the most demanding clients (who tend to be the wealthiest) OTP Prestige Private Banking offers an even more sophisticated service.
The core element of OTP Private Banking value proposition is the investment advisory and the wealth management built upon it. The bank investment product ranges are complemented with the products of well-known international partners, including BlackRock, UBS. These elements provide the possibility for the relationship managers to create a tailor made investment strategy for each and every client.
In a time of deep recession it is particularly true that the well qualified and devoted relationship managers are important assets of the bank. The experience, determination and trust implies, that the clients receive the best possible solutions under any circumstance.
Dynamically increasing client base and stable asset under management even amid turbulent times
OTP Private Banking managed to maintain its momentum last year as well, thus providing services for more than 15 000 clients, as part of the largest domestic financial institution in Hungary.
The asset under management reached HUF 460 billion at the end of last year. Despite the fact that the industry had to face the deepest financial crises of the past decades, the latter number of OTP Private Banking still shows a measurably increase compared to 2007, which was a unique performance among wealth management institutions.
Thanks to the long term strategy and the successful business model OTP Private Banking has managed to dynamically attract net new money, and retain its domestic market leader position, despite the sharp drop in almost every asset class.
The best proof of the clients' loyalty, in the most severe times, came in October 2008, when the number of new private banking clients doubled compared to the average monthly growth and reached a new peak.
Service on the Western level, locations in Eastern Europe
In order to provide premium services for the high net-worth clients at the subsidiaries, OTP Private Banking is transferring its best practice, combining it with the local conditions and requirements.
Private banking service is being built in the eight countries of OTP Group, with the aim to implement the Hungarian high level service model as a group standard. Although there is still a long way to go, there is already more than EUR 350 million of wealth managed at OTP's subsidiaries at the close of 2008.
On the back of the strong cooperation, a cross-border service network is currently being built. Whether it is Croatian real estate purchasing or Russian investment opportunities, the borders are eliminated and the regional possibilities are wide open as well.
