Disclaimer information

Please read the following information carefully.

By opening the http://www.otpresearch.com or https://www.otpbank.hu/elemzesikozpont/hu/Fooldal websites and any of their pages (as well as the online content available on these servers, hereinafter jointly referred to as "website"), you agree to the terms listed below and you also guarantee that you are authorized to access the content available on OTP Bank’s website. Please do not open the website if you disagree with the terms or are not authorized to access its content. Any content available on this website is at your own discretion and risk.

OTP Bank Plc does not intend to present the content of this website as an objective or independent explanation of the matters contained therein. Please note that this website's content a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and b) is not subject to any prohibition on dealing ahead of the dissemination of investment research.

The content available on this website does not contain a comprehensive analysis of the described issues. The content available on this website is only for information purposes and it is not intended as an investment advice, an offer or solicitation for the purchase or sale of any financial instrument, and it does not constitute legal, tax or accounting advice.

The content available on this website reflects the market situation at the given point in time or, unless otherwise stated, at the time of uploading. It provides only temporary information and may change as market conditions and circumstances develop. Additional information may be available upon request. Although the information on this website has been prepared in good faith from sources that OTP Bank believes to be reliable, we do not represent or warrant its accuracy and this content may be incomplete or condensed. Opinions and estimates in this online content constitute our judgment at the time of publication and are subject to change without notice. Users of the information on this website should be aware that OTP Bank may hold a position or act as market maker in the financial instrument of any issuer discussed herein or act as advisor or lender to such issuer. This online content is not intended to provide the basis for any evaluation of the financial instruments discussed herein. In particular, information on this website regarding any issue of new financial instruments should be regarded as indicative, preliminary and for illustrative purposes only, and evaluation of any such financial instruments is made solely on the basis of information contained in the relevant offering circular and pricing supplement when available. This website content does not mean that OTP Bank acts as a fiduciary for or an advisor to any prospective purchaser of the financial instruments discussed on this website; neither is it responsible for determining the legality or suitability of an investment in the financial instruments by any prospective purchaser.

Before purchasing or selling financial instruments or engaging investment services, please examine the prospectuses, regulations, terms, agreements, notices, fee letters, and any other relevant documents regarding financial instruments or investment services described herein in order to be capable of making a well-advised investment decision. Please refer to your competent adviser for advice on the risks, fees, taxes, potential losses and any other relevant conditions before you make your investment decision regarding financial instruments or investment services described herein.

Any concrete individual decision or investment made based on the content of this website is the sole risk of the Client, and OTP Bank shall not be held responsible for the success of the investment decisions or for attaining the Client's target. Figures described herein refer to the past, and past performance is not a reliable indicator of future yields, trends or results.

OTP Bank Plc. (company registration number: 01-10-041585; registered seat: Nádor utca 16., Budapest H-1051, Hungary; Supervisory authority: Hungarian Financial Supervisory Authority (PSZÁF, Pénzügyi Szervezetek Állami Felügyelete – H-1013 Budapest, Krisztina krt. 39.; PSZÁF licence numbers: III/41.003-22/2002 and E-III/456/2008; for more information, please refer to: https://www.otpbank.hu/portal/hu/Megtakaritas/Ertekpapir/MIFID).

All rights reserved. All content on this website is exclusively owned by OTP Bank Plc. No part of this content can be reproduced, re-used or disseminated without the prior written consent of OTP Bank Plc.

In no event will OTP Bank Plc be liable for damages, losses, or costs that may arise from the usage, improper functioning, malfunction of the web pages, the unauthorized modification of its data, or caused by the delay in information transmission, computer viruses, line failure or system error, or other similar reasons.


Provider: OTP Bank Plc.

Address: 1051 Budapest, Nádor utca 16.
P.O.B: 1876 Budapest

Tel.: +36-1-473-5000
Fax: +36-1-473-5955