The ratings on Hungary-based OTP Bank Rt. (OTP) reflect the bank's integral position and significance to the Hungarian financial system, its stable financial profile, its success in developing into an extensive financial services group, and Standard&Poor's strong belief in implicit government support, should the need arise. OTP group maintains its dominant position in the market despite fierce and intensifying competition. The group's lead in its traditional segments, retail and municipal, both on the asset and liability sides, remains solid. Its lead in retail loans is decreasing, however, due to the growing attractiveness of the sector for other banks in the system. In addition, the group provides a wide range of services through its numerous subsidiaries and has effectively
