The board of directors had decided earlier to split the two roles, effective May 1.

The new CEO will be Péter Csányi, the 33-year-old son of the chairman, who is currently CEO of the digital division and is a member of the board.

He joined the bank in 2016, after working five years at consulting firm McKinsey, primarily on banking and financial projects, as a senior consultant.

Speaking at a press conference after the AGM, Sándor Csányi said he would continue to lead OTP’s strategic direction, including acquisitions and senior appointments, while operational leadership would shift to the new CEO.

The younger Csányi has proved his qualities as chairman of the executive steering committee set up in 2023, which made operational decisions, his father said, as he rejected accusations that he is creating a dynasty.

Péter Csányi said he would only make fine-tuning changes to OTP’s current strategic line to accelerate operational decision-making and maintain the bank’s dominant market position in Hungary and its growing regional footprint.

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