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The consolidated accounting profit was HUF 281.3 billion in 2017 versus HUF 202.5 billion in the base period. In 2017 as a whole adjustment items amounted to -HUF 2.7 billion (after tax). In 2017 OTP Group posted HUF 284.1 billion adjusted after-tax profit (+41% y-o-y), adjusted for the positive impact of the Splitska banka and Vojvodjanska banka acquisitions (in total HUF 11 billion) the increase would be 36% y-o-y. The annual corporate tax burden declined by HUF 6.2 billion partially reasoned by the y-o-y 10 pps lowerHungarian corporate tax rate, as a result the consolidated effective tax...

OTP Group: balance HRK 44 billion, over 11 percent of market share in a diversified business network. The previous year in the OTP Group was marked by the takeover of Splitska banka in May, since when intensive work on the integration process that will be completed by 1 October this year is ongoing. The merger will create the fourth largest bank in Croatia, with strong national presence and predominant financial player in the coastal belt with a network of branch offices and ATMs. Along with intensive integration preparations OTP Group recorded excellent business results in 2017. With a...

OTP banka signed the Diversity Charter, joining a community of more than 7,100 organizations from 18 European countries, thus opening new channels and fresh potential for its organization, employees and the community in which it responsibly operates. The initiative functions as a platform, gathering organizations that will share knowledge, learn from each other, and implement different tools to develop and promote diversity policies. This stipulates continuous development of organizational environments aimed at increasing efficiency of the organization and each individual. Diversity Charter...

The consolidated accounting profit was HUF 79.3 billion in 3Q 2017 (-2% q-o-q). During the last three months the following adjustment items appeared: HUF 189 million negative tax effect related to the reversal of impairment charges booked in relation to OTP Mortgage Bank; HUF 155 million (after tax) in relation to the Splitska banka transaction on the Effect of acquisitions line; the quarterly Slovakian banking tax (-HUF 162 million after tax); HUF 302 million dividends and net cash transfers (after tax). As a result, the total amount of adjustment items within 3Q 2017 accounting profit...

OTP banka Hrvatska was awarded for its CSR efforts and achievements in CSR communication, among top 10 companies in Croatia and as the only bank among them. Following an extensive research conducted among Croatian companies, organized by Croatian Employers Association, Global Compact Network Croatia, Good Croatia (business initiative for promotion of CSR) and MEP publishing house, ten companies were selected as top-class examples of excellent CSR communication.  Besides conducted research, the award committee analyzed the CSR content on corporate web, Facebook, Youtube and other...

The consolidated accounting profit was HUF 80.7 billion in 2Q 2017 (+53% q-o-q). During the last three months four adjustment items appeared: certain, mainly one-off items emerged in relation to the Splitska banka transaction in 2Q; HUF 782 million negative tax effect related to the write-back of impairment losses at three Hungarian subsidiaries; HUF 209 million dividends and net cash transfers (after tax); the quarterly Slovakian banking tax (-HUF 169 million after tax). As a result, the total amount of adjustment items to 2Q 2017 accounting profit represented +HUF 2.4 billion (after tax)....

The consolidated accounting profit was HUF 53 billion (+54% y-o-y). In line with the management’s guidance only one material adjustment items appeared in 1Q 2017, namely the banking tax in the amount of HUF 14.7 billion). This amount includes the full-year Hungarian levy booked already in 1Q in a lump-sum, as well as the quarterly part of the Slovakian banking tax. In 1Q 2017 OTP Group posted HUF 66.8 billion adjusted after-tax profit (+136% q-o-q and +40% y-o-y). Key components of the improvement: on one hand the significant decline in risk costs and the effective tax rate moderated, too,...

OTP banka Hrvatska announced the completion of the transaction for the purchase of 100 percent of Splitska banka.  The merger will create fourth largest bank in Croatia, comprising to 11 percent of the market share. At today's press conference held in Split, high representatives of OTP Bank Nyrt., OTP banka Hrvatska and Splitska banka stated that the transaction for the purchase of Splitska banka was performed earlier this week. Previously, OTP banka acquired all necessary approvals for the transaction by the authorized regulatory bodies: Croatian National Bank, Croatian Financial...

The banking group has still strong liquidity and capital position, with defining Hungarian and Bulgarian performance. The consolidated accounting profit was HUF 202.5 billion in 2016 versus HUF 63.2 billion posted in 2015. Against the last couple of years this time adjustment items had a limited impact on the annual accounting profit. In 2016 OTP Group posted HUF 201.2 billion adjusted after tax profit (+67% y-o-y). The tax burden increased by almost HUF 18 billion y-o-y, but the effective tax rate remained almost unchanged (17.8%). The operating income eroded by 7%, however it was...

OTP Bank Plc. announces that OTP banka Hrvatska, the Croatian subsidiary of OTP Bank signed an acquisition agreement on purchasing 100% shareholding of Splitska Banka, member of Société Générale Group. Societe Generale Splitska is the 5th biggest player on the Croatian banking market and as a universal bank it has been active in the retail and corporate segment as well. As a result of the acquisition the market share of OTP Group will rise to approximately 10%. OTP Bank has been present in Croatia since 2005 and its operation has been continuously profitable even during the economic crisis...