Hungarian billionaire seeking opportunity to invest in food industry in Serbia

Sandor Csanyi, the president and CEO of the leading bank in central and eastern Europe, OTP, and a businessman who has big projects in agriculture and food industry and one of the richest people in Hungary, pointed out in an interview for NIN that he saw the biggest potential for investment in technologies, digitization and AI development at that moment and that he was personally looking for an opportunity to invest in the food industry in Serbia.

– I follow the agricultural sector and food industry in Serbia privately. Previously, there were lots more opportunities and possibilities in Europe, but I see that now you too invest a lot in that segment, developing and advancing. My company KITE has a company which does great business in Serbia and grows with each year, so I am looking for a good opportunity for an investment and you might soon hear that I’ve invested in a food industry company – Csanyi said for NIN during the press visit to OTP Group in Hungary.

He said that the Serbian economy was very strong and especially highlighted one sector which contributed to the economic stability.

– What is especially noticeable is that the telecommunications sector is growing in Serbia. IT exports are very big, which is great, because it contributes to the stability of the dinar and strengthens the local economy. There’s also the development of new technologies, especially AI. It all requires big investments too. We, of course, have a bank as well, and those fields are connected, so that’s why we find it all interesting – explains Csanyi.

“For now, we are not buying banks in Serbia, but we are looking”

OTP Group has so far acquired several banks in Serbia. According to Csanyi, considering the regulations of the competent regulator, but also the competition, they are very satisfied with the operations of their branch office in Serbia.

When asked by the journalists whether a new acquisition of any of the existing 20 that are present in Serbia at the moment, the CEO of this institution says:

– We are not buying anything new in Serbia at the moment, but we are carrying out numerous in-depth analyses in several countries simultaneously. It could be anywhere, because economy on a scale is very important in the banking sector and it seems that technology, digitization and artificial intelligence are advancing at a rapid pace. That’s why it’s important to constantly improve the bank in order to reach the development of the economy. These are some reasons for the purchase, but we are not buying anything yet, but it is true that we are interested.

OTP Group

KITE

Sandor Csanyi

investments in food industry

food industry