Stability, innovation, sustainability
The OTP Group has published its sustainability performance report again this year. The publication presents the corporate governance guidelines, last year’s results and the impact on the environment and society.
OTP Group published its Sustainability Report 2021, in which the activities and results are presented in a comprehensive way from the perspective of responsible operations and sustainability.
The issue has again been prepared according to international standards. It focuses on access to products and services, appropriate customer information, developing financial literacy, and environmental protection. In addition to serving customers responsibly, the report also presents the Group as a responsible employer and an active participant in community engagement.
Below is a summary on some of the topics discussed in the report.
Leader in innovation
The digitalization – in addition to creating the possibility of convenient and fast daily banking - will also greatly improve the accessibility of services. Therefore, the OTP Group is paying special attention to expanding the functions of electronic channels and encouraging their use.
Some examples of developments in the past year:
- personal loan can be applied for fully online,
- application for Minimum account is available via videobank,
- the Selfie account opening via mobile bank,
- making the mortgage loan available via videobank as a pilot project.
Environmental protection and ESG
OTP Bank was the first Hungarian credit institution to sign the UN Environment Programme's Principles for Responsible Banking, committing to put sustainability at the heart of its business.
Also in 2021, OTP Group adopted its Environmental, Social and Governance (ESG) Strategy, the main objective of which is to become a regional leader in financing a just and gradual transition to a low-carbon economy and building a sustainable future. As part of its strategy, the Group have set a target of net carbon neutrality for our own operations from 2022.
Environmental considerations are also becoming an increasingly important factor in economic and investment decisions, helping to achieve sustainable growth. By 2023, the OTP Group aims to become the most advanced bank in Central and Eastern Europe in the field of green finance.
Committed to improving financial literacy
Developing financial culture remains OTP Group’s most important social engagement activity. For many years, we have been using a range of tools to help raise public awareness. The OTP Fáy András Foundation plays an indispensable role in this activity, which is doing a lot to promote financial literacy not only in Hungary, but also in several countries of the region through its professional guidance.
In 2021, the Foundation started developing widely accessible educational materials to improve financial knowledge and awareness among adults, but the Bank has also contributed to raising financial awareness: over the past year, general and specific financial education leaflets have been produced on a range of topics and will be made available to customers and - where possible- the general public.
You can read more about OTP Group's sustainability efforts in the 16th Sustainability Report.