FRANKFURT (S&P Global Ratings) Dec. 13, 2022--S&P Global Ratings said today that OTP Bank PLC (OTP)'s agreement to acquire a majority stake in Uzbekistan-based Ipoteka Bank is unlikely to impair the group's overall capitalization and risk profile given its size in relation to the balance sheet (about 2.5%). However, downside risks remain given the overall effect on OTP's (BBB/Negative/A-2) capitalization is currently unclear. Although the acquisition alone is unlikely to lead to material capital consumption, it could contribute to the deterioration of the currently strong capital buffer if coupled with other unfavorable developments, such as increasing risks for OTP's core countries of operations. On Dec. 12, 2022, OTP agreed to purchase the Ipoteka Bank shares held by Uzbekistan's Ministry of
