Tashkent, Uzbekistan (UzDaily.com) -- Hungarian OTP Bank increased its stake in Ipoteka Bank from 75% to 79.6%. This was reported by the press service of the Uzbek bank.

OTP Bank acquired an additional 844.6 billion common shares of Ipoteka Bank for US$70 million.

As a result, the authorized capital of Ipoteka Bank increased by 28.3% - to 3.83 trillion soums.

At the end of last year, the Hungarian OTP Bank acquired a 75% stake in Ipoteka Bank. Within three years, the Hungarian bank plans to acquire the remaining stake in the Uzbek bank.

In June 2023, OTP Bank closed the deal to acquire almost 75% of the state stake in Ipoteka Bank.