OTP Bank Nyrt. Rotten Score Breakdown

The Hungarian Competition Authority found that OTP Bank's 2007 advertising of preferential deposit rates was misleading because key conditions for obtaining the advertised rates were not always properly communicated. The GVH imposed a HUF 132 million fine. A court later confirmed the finding that OTP had misled consumers, while requiring a new proceeding on calculation of the fine. Source: https://www.gvh.hu/en/press_room/press_releases/archive/press_releases_2007/5004_en_misleading_campaign_for_deposit_fixing_leads_to_highly_fixed_fine

The Hungarian Competition Authority found that OTP continued misleading credit-card advertising after an earlier enforcement decision. The advertising failed to make sufficiently clear the conditions required for interest-free use of the credit line. Because OTP had not changed the conduct and had previously been sanctioned for consumer deception, the GVH imposed a further HUF 200 million fine in November 2007. Source: https://www.gvh.hu/en/press_room/press_releases/archive/press_releases_2007/4972_en_gvh_sanctions_once_more_for_misleading_credit_card_ads

The Hungarian Competition Authority found that OTP Bank and other banks coordinated strategies and exchanged confidential information between 15 September 2011 and 30 January 2012 in order to restrict fixed-exchange-rate prepayment of foreign-currency mortgages. Following judicial review and a repeated proceeding, the GVH imposed a reduced HUF 1.435 billion fine on OTP in 2018. Source: https://www.gvh.hu/en/press_room/press_releases/press_releases_2018/the_fines_imposed_as_a_result_of_a_cartel_related_