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1Q 2019 consolidated accounting after tax profit was HUF 72.6 billion (+12% y-o-y) versus HUF 65 billion in the base period. The accounting ROE was 15.9% (-0.3 pp y-o-y), whereas the adjusted ROE stood at 19.8%. The total volume of adjustment items (after tax) in 1Q represented -HUF 17.8 billion. The two material items were as follows: -HUF 15.2 billion banking tax paid by the Hungarian and Slovakian subsidiaries (after tax); -2.8 billion effect of acquisitions (after tax). In 1Q 2019 OTP Group posted HUF 90.4 billion adjusted after-tax profit underpinning a 14% y-o-y increase. The profit...

OTP Bank Plc. announces that OTP Bank signed an acquisition agreement on purchasing the majority stake of SKB Banka, the Slovenian subsidiary of Societe Generale Group and other local subsidiaries held by SKB Banka. With a market share of nearly 9%, SKB Banka is the 4th largest bank on the Slovenian banking market and as a universal bank it has been active in the retail and corporate segment as well. The financial closure of the transaction is expected in the coming months subject to obtaining all the necessary regulatory approvals. With this acquisition OTP Group is entering a...

As of today, 1th of April, OTP Bank announced that the financial closure of the Albanian transaction has been completed. As a result, OTP Bank has become the 100% owner of Banka Societe Generale Albania, the Albanian subsidiary of Societe Generale Group. With a market share of nearly 6 %, SGAL is the 5th largest bank on the Albanian banking market and as a universal bank it has been active in the retail and corporate segment as well. With the accession of the Albanian bank, OTP Group is already present in 10 countries in the Central and Eastern European region, becoming an even stronger...

Data Protection Policy is updated in part of processing personal data based on legitimate interest (chapter 5.) and related amendments coming into force on 23.03.2019. The updated Data Protection Policy you can find on following link Data Protection Policy.

The full year consolidated accounting profit was HUF 318.3 billion versus HUF 281.3 billion in the base period. During the course of the year total adjustment items comprised -HUF 7 billion (after tax), of which +HUF 15.3 billion (after tax) appeared within 4Q accounting profit. In 2018 OTP Group posted all-time high, HUF 325.3 billion (above EUR 1 billion) adjusted after-tax profit (+15% y-o-y).The effective tax rate declined by 1.3 pps to 10.3%. The before tax profit grew by 13% compared to the base year. Within the annual profit – given their individual weight – profit contribution from...

OTP Bank announced that Crnogorska komercijalna banka, the Montenegrin subsidiary of OTP Bank signed an acquisition agreement on purchasing the majority stake of Societe Generale banka Montenegro, the Montenegrin subsidiary of Societe Generale Group. With a market share of 11.5%, SGM is the 4th largest bank on the Montenegrin banking market and as a universal bank it has been active in the retail and corporate segment as well. As a result of this latest acquisitions our banking group will play a more decisive role throughout Europe but especially in the CEE region. The financial closure of...

Nine post-product/market fit startups and scaleups will have the opportunity to cooperate with OTP Bank under the second batch of the credit institution’s international startup programme. Over the course of the three-month programme, the companies invited to join the scheme can test their products and services with the support of several bank departments, while also aiming to prove their maturity and readiness to develop a long-term cooperation with the banking group. Applications for OTP Bank’s second international startup and scaleup program were open from last October, and a great number...

OTP Bank Plc. announces that OTP Bank signed an acquisition agreement on purchasing 87.85% shareholding of Mobiasbanca – Groupe Societe Generale S.A. („SGMB”), the Moldovan subsidiary of Societe Generale Group. With a market share of 13.3%, SGMB is the 4th largest bank on the Moldovan banking market and as a universal bank it has been active in the retail and corporate segment as well. The financial closure of the transaction is expected in the coming months subject to obtaining all the necessary regulatory approvals. In addition to concluding the sales contract, the two banking groups...

The 1H consolidated accounting profit was HUF 154.6 billion (+16% y-o-y). In 1H adjustment items comprised -HUF 15.6 billion (after tax) of which -HUF 1.4 billion appeared within 2Q accounting profit (after tax). Out of them four items should be mentioned: -HUF 1.8 billion (after tax) acquisition effect related mainly to integration costs at Splitska banka and Vojvodjanska banka; -HUF 187 million related to the Slovakian banking tax; +HUF 476 million (after tax): tax effect related to the recognition and reversal of impairment charges booked in relation to investments in certain subsidiaries...

After the integration on October 1, the new bank will operate under the name OTP banka Hrvatska with seat in Split. Through the transaction in May 2017, OTP banka became the 100% owner of Splitska banka. Since then, a very complex integration process has been implemented, which will be completed by the full merger on October 1st this year. After that, a unique bank will operate under the name OTP banka Hrvatska and will have its headquarters in Split. Through this merger, the fourth largest bank in Croatia is formed, strongly nationally present with a wide network of branch offices and ATMs...