OTP Group started its activity in 1949 when OTP Bank was founded as a state savings and commercial bank. OTP stands for Országos Takarék Pénztár (National Savings Bank) which indicates the original purpose of establishment of the bank. The bank went public in 1995, and the share of the state in the bank capital decreased to one preferential gold share, which also eliminated shortly thereafter. Currently most of the banks' shares are owned by private and institutional investors, which ensures stable ownership structure of the company. OTP has a high free float shareholder structure, with a free float ratio of 68.61%. The rest are held by the Forbes billionaire Megdet Rahimkulov at 8.88%, Hungarian MOL Group at 8.57%, French Groupama at 8.3% and American Lazard at 5.64%.