State Savings Bank of Hungary - Országos Takarékpénztár (OTP Bank Plc., National Savings Bank of Hungary), provided a name for a financial group OTP Group; was founded March 1, 1949. In 1990 the bank was transformed into a public company. Its privatisation occured in 1995. After, OTP Bank began an international expansion to Central and East European markets, which demonstrated high growth potential.