Tashkent, Uzbekistan (UzDaily.com) -- The Hungarian OTP Bank asked to postpone the deal on the purchase of Ipoteka-Bank for 2-3 months. It was reported by Bloomberg.

The Hungarian bank asked to postpone the deal due to the military conflict between Russia and Ukraine. 

“The consequences of the military conflict were reflected in the deal, which was nearing completion. As a result, OTP turned to Uzbekistan and asked to postpone it until the situation is clarified,” the agency notes.

OTP Bank signed a non-binding agreement regarding the potential acquisition of a majority stake in Ipoteka-Bank with the Ministry of Finance of the Republic of Uzbekistan. The bank planned to acquire a 75% stake in Ipoteka-Bank.