Press

The overall performance of 2022 was shaped mainly by the direct and indirect impact of the war between Russia and Ukraine broken out on 24 February. As part of the acquisition activity, in 2022 OTP successfully completed the purchase of Alpha Bank in Albania, and the third quarter results already incorporated the balance sheet and P&L numbers of the newly acquired entity. On 6 February 2023 the purchase of Nova KBM in Slovenia was financially closed, the balance sheet and P&L numbers will be consolidated in the first quarter figures. The transaction represented the biggest ever...

For the seventh year running, Global Investor/ISF magazine declared OTP banka one of the best custodian banks in the Republic of Croatia based on customer ratings, where the bank was rated first in two categories, and the runner-up in the third category. The Global Investor Magazine’s awards for custodian services are divided into 3 categories: ratings weighted by size of foreign customers’ assets, ratings unweighted by size of foreign customers’ assets, and ratings unweighted by size of domestic customers’ assets. Over 10 criteria were taken into consideration, amongst which provision of...

OTP banka confirmed its status of one of leading custodian banks in Croatia  Global Finance magazine has published the results of its 20th election for the award of the best Sub-Custodian bank. The election is held in over 80 countries around the world. For choosing the best bank in every market, the editorial board of the Global Finance magazine based its choice on market research, the opinion of experts in this field, and finally the data obtained from the banks. Selection criteria include customer relationship, quality of service, competitive price of service, technology, business...

Currently it is difficult to quantify the ramifications of the Russian-Ukrainian conflict on the Russian and Ukrainian operations, potential scenarios vary over a wide spectrum. Assuming that the conflict doesn’t exert a material negative effect on the rest of the Group, the 2022 performance of the rest of the Group, i.e. without the Russian and Ukrainian operations, might develop as follows: Performing (Stage 1+2) organic loan volume growth might be around 10% y-o-y (FX-adjusted). Following the steady erosion during the last couple of years the net interest margin may stabilize. The...

The most prestigious financial magazine The Banker selected OTP banka d.d. as the Bank of the Year in Croatia in 2021.  OTP Bank in Hungary won the title in the same category. OTP Group is the regional champion of Central and Eastern Europe, , due to its advanced activities and the energetic expansion throughout the whole region. The Banker magazine, whose 95-year tradition guarantees a critical and comprehensive review of business results, progress, but also the overall activities of financial institutions in the area in which they operate, gave the greatest recognition to OTP banka d....

For the first nine months Group-level trends played out overall positively. According to the management guidance: Based on the ytd performing (Stage 1+2) loan volume growth of 11%, the loan book might expand by around 15% (FX-adjusted) for the whole year. Assuming that positive risk trends continue to prevail, adjusted ROE for 2021 may end up between 18-20%. OTP Bank’s management is committed to distribute dividends, including the HUF 119 billion dividend amount after 2019 and 2020, which had been already deducted from the regulatory capital. Regarding the dividend to be paid out after...

For the sixth year in a row, Global Investor/ISF magazine declared OTP banka d.d. one of the best custodian banks in the Republic of Croatia based on customer ratings, where the bank was rated first in two categories, and a runner-up in the third category. This year, Global Investor magazine introduced a new method of acknowledgement of custodian banks, in 3 categories, instead of the typical two: ratings weighted by size of foreign customers’ assets, ratings unweighted by size of foreign customers’ assets, and ratings unweighted by size of domestic customers’ assets. Over 10 categories i.e...

OTP Group closed the second quarter with a profit more than analysts' expectations, with a consolidated profit after tax of HUF 121.8 billion, which is 31 percent higher than in the previous quarter and 55 percent higher than a year earlier. For the first six months Group-level trends overall played out positively. At the same time, the potential 4th wave of the pandemic justifies being cautious, though the expected macroeconomic impact is expected to be much lower, according to current forecasts. According to the management guidance: On the back of the ytd performing (Stage 1+2) loan...

Having obtained the necessary approvals of the Croatian National Bank and the Hungarian Central Bank, yesterday OTP banka d.d. concluded a transaction whereby it acquired a majority holding in the company Georg d.o.o. Zagreb. The Bank entered into the related Agreement for Sale and Purchase of Shares with this company mid-February this year, wishing to provide its clients even more comprehensive service, that is, more concrete from the consultancy point of view, and availing them of even more opportunities to expand their business. Georg d.o.o. is one of the leading consultancy companies in...

OTP Bank has signed a share sale and purchase agreement to purchase 100% of Slovenia’s Nova KBM d.d., owned by funds managed by affiliates of Apollo Global Management, Inc. (80%) and EBRD (20%). The acquisition of the bank is the most significant acquisition in the history of OTP Group enabling the banking group to become the market leader in Slovenia. The transaction is expected to close in the second quarter of next year, subject to obtaining all required regulatory approvals. Nova KBM d.d. (Nova KBM) is Slovenia's second largest bank with a market share of 20.5% in terms of total assets...