The Hungarian National Bank (MNB) has told OTP Bank it should take ‘precautionary measures’ over its Russian business. The financial market watchdog proposed that OTP reduce its corporate loans in Russia, keep its retail loan portfolio at current levels and reduce deposits. OTP says its Russian business accounted for 4.2% of total assets at group level in the first quarter. The Russian business has just 0.14% market share, it added. OTP Russia has reduced its corporate loan portfolio by 85% since the beginning of 2022, while the lender’s branch network in Russia has contracted by 39% and headc…