A cooperation agreement has been signed by the Secretary of Social, Family and Youth Affairs of the Ministry of Human Resources and OTP Bank in Budapest on 15th May 2012 in order to ensure that the bank would develop a value-keeping and personalized offer for the management of the savings of children in care.

The agreement concerns more than twenty-six thousand children and nearly twenty-seven thousand young adult in care or leaving care and its value is about 47 billion Hungarian Forint as Miklós Soltész informed. The Secretary of Social, Family and Youth Affairs told that the relevance of the non-exclusive agreement is that the leading Hungarian bank would provide a special service for the savings of children with special circumstances. Furthermore, he emphasized that the overnight interest rates of the guardian deposits have shown a relevant growth and are becoming unified. He added that OTP Bank has undertaken the development of financial solutions, which would ensure the value-keeping of this type of savings. In order to make it sure the overnight interest rate of the guardian Forint Accounts would be tied to the average of the inflation of the previous three monts. OTP Bank would still offer the current special time deposits as well as the special options of six-months and two-years time deposits for the guardian HUF accounts, which would be indexed to the interest rate of the Hungarian National Bank.

Antal Kovács, Miklós Soltész (photo: Gergely Botár)

Miklós Soltész also told that the ageement includes that OTP Bank would support the housing of adoptive families by a yearly allocation of twenty million HUF which could be used by 4-5 families a year with a maximum of five million HUF per family.

Antal Kovács, vice CEO of OTP Bank, highlited that as a leading bank they consider social responsibility as a high priority and they would like to support those with special circumstances in a way which could enable them to plan their own future. With regards to their offers he stated that the personalized accounts and securities acounts guarantee flexibility and value-keeping for the customers, which will be charaterized by a higher than average interest rate and more favourable conditions.

(State Secretariat for Social, Family and Youth Affairs)