OTP Bank Nyrt. is considering all possible scenarios regarding its operations in Russia, including a potential withdrawal from the country, the Hungarian lender said in a statement published on the website of its Ukrainian unit, Joint-Stock Co. OTP Bank.

OTP Bank's Russian unit, JSC OTP Bank, is operating in full compliance with international sanctions and has been winding down corporate lending in Russia, while trading in Russian government securities has been suspended across the international operations of OTP Group, the Hungarian parent said, adding that it does not provide financing to its Russian unit.

OTP Bank also said it has been maintaining the operations of its Ukrainian subsidiary amid Russia's ongoing invasion of Ukraine.

OTP Bank's Russian and Ukrainian operations accounted for more than 15% of the lender's adjusted profit for 2021, the lender said in early March, with CEO Sandor Csanyi noting at the time that OTP Group wants to stay in Russia and Ukraine for the long term.

Other foreign banks, including Deutsche Bank AG and Commerzbank AG, have already decided to exit Russia, while other banks with Russian exposure, such as Raiffeisen Bank International AG and UniCredit SpA, have been considering a potential pullout from the country.