OTP Group published its annual Sustainability Performance Report, which presents the main principles of corporate governance, the Group’s operations, results, environmental and social impacts in accordance with strict international standards.
2020 was an exceptional year in every sense of the word. In times of crisis, it is particularly important to remember that every difficulty is an opportunity. It is an opportunity to innovate, to evolve, to try out new visions and new processes.
The role of online services and cashless payments became even more important in 2020. OTP Group responded to Covid-19 in a timely, broad and group-wide manner. Our aim was to serve customers securely and seamlessly, supporting their financial transactions. The demand for innovation and the bank’s ability to improve thanks to its agile operations have increased dramatically. Thanks to artificial intelligence, we have been able to process tasks related to the moratorium on loan repayments at a speed previously unimaginable.
- In 2020, the number of online transfers at OTP Bank increased by a third.
- Mobile banking had more than 4 million users in OTP Bank.
- By the end of 2020, our robots had processed more than 260,000 applications.
Green finance growth
Our priority goal is to become the most mature Central and Eastern European bank in green finance by 2023. As a responsible corporate citizen committed to environmental and social sustainability, and in line with investor and regulatory requirements, we have created the possibility for the comprehensive organisational integration of ESG (environment, society, governance) aspects within the OTP Group. We have created the ESG Steering Committee and, among other programmes, we have started to develop the ESG strategy and set up the Green Programme Directorate.
- HUF 9.2 billion in project finance loans to the renewable energy sector, financing a total of 30 MW of solar capacity.
- We provided HUF 16 billion in loans for residential energy efficiency through MFB Points.
- The OTP Fund Manager’s OTP Climate Change 130/30 investment fund achieved an outstanding return of over 70% during the year.
Developing financial literacy
Financial literacy has been the most prominent and high-impact social engagement activity of the OTP Group for many years. We have a long history and a wide range of tools to help increase the knowledge of the population. We are convinced that financial education is an important condition for the development of the region. We have been able to put the financial education of the OTP Fáy András Foundation on a new footing. The renewed OK Education and Innovation Centre offers students even greater capacity and more modern equipment.
- The OC Education and Innovation Centre has developed a comprehensive digital programme with streamed lectures, online videos, 46 e-learning course materials and Platypus: the Finlit Story app.
- 163 EC staff members delivered Money7 lectures in Hungary.
- HUF 1 billion was spent on financial education.
More information can be find about the sustainability achievements and performance in the 15th OTP Group Sustainability Report. Our Sustainability Report for 2020 is available for public access and download, along with previous years’ reports, on the bank’s website.
Source: otpfenntarthatosag.hu (translated with deepl)
Cover picture: depositphotos.com