OTP Group sets up Hungarian agency

In one sense, its foray into real estate agency is not particularly surprising as the bank is, through its subsidiaries, already involved in activities as diverse as fund management and car leasing. The real estate agency arm of OTP Ingatlanpont was officially established in December 2011. Led by György Kosztolánczy, the subsidiary intends to become one of the three biggest property brokers in terms of transaction numbers by the first half of 2013. How does it intend to achieve this? Well, part of the answer is that it is going to pay for it. "We want to build aggressively and fast. We are prepared to pay for expansion in the beginning," explains Ivan Tettamanti, the head of sales of residential projects. "As a new player we know we have to pay an attractive package to attract people," but he also stresses that "we are not just paying whatever it costs." Not only is the company prepared to pay slightly more to attract the people it needs, but it is also prepared to pay f