CULTURAL, POLITICAL AND ECONOMIC ASPECTS OF THE INTERNATIONAL EXPANSION OF BANKS FROM CENTRAL AND EASTERN EUROPE – CASES: POLISH PKO BP AND HUNGARIAN OTP BANK

Lech Kurkliński
2014 Acta Universitatis Lodziensis. Folia Oeconomica  
Polish PKO BP and Hungarian OTP Bank are the largest, dominant national banking institutions of a similar nature – universal banks with a strong emphasis on retail operations. However, they differ significantly because of international activities. PKO BP has only local bank in Ukraine, and the OTP group is present in 9 countries in CEE. The relatively strong economic position of both banks, similar history would indicate that their activities related to foreign expansions should develop in the
more » ... uld develop in the same way. However, this hasn't happen. Among a number of reasons we should include cultural aspects, closely bound up with the legacy of the past, political and economic circumstances for both countries.
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