Relying only on financial indicators has many shortcomings and is not in line with the changing environment of the modern world. The performance monitoring method should be dynamic in order to adapt to internal and external changes. In response to the above, a number of models have been developed that take into account the multidimensional approach to performance measurement, and one of the most prominent is the Balanced Scorecard model. Today financial institutions are faced with a global international market characterized by a turbulent and aggressive environment, an increasing number of financial innovations, intensified domestic and foreign competition and more and more non-financial organizations taking over financial affairs. In order to successfully survive in such conditions, the primary task of financial institutions is to change the business strategy and emphasize the development of relationships with consumers as well as the development of new and quality products and services. The aim of this research is to raise awareness of the positive implications that the implementation of the Balanced Scorecard model as a modern model for measuring performance would have on a large financial institution such as OTP bank. The BSC model, as it emphasizes all indicators, helps managers to discover in time whether the improvements made in one area of business may have been to the detriment of another. To measure a company's performance, four perspectives are observed: the financial perspective, the customer perspective, the internal processes perspective, and the learning and development perspective. The testing of research hypotheses sought to prove that there is potential in the application of the BSC model in OTP bank and that this would have a long-term impact on better company performance, which was ultimately proven and all tested research hypotheses were accepted as true.