Tuesday , June 28 2022

OTP – Napi.hu reported the highest profit


The OTP Bank Group achieved a profit of $ 85.9 billion after tax in the third quarter, a decrease of 4% over the previous quarter and 8% higher than the previous year. According to a statement issued today by the BSE on the Budapest Stock Exchange (BSE), International Financial Reporting Standards (IFRS).

Consolidated after-tax profit in the third quarter was $ 92.7 billion, a 2% increase over the previous quarter, a 17% increase over the same period last year, a new record.

Consolidated profit for the first three quarters was $ 240.5 billion, an increase of 13% over the same period last year.

In the first nine months of the year HUF 262.8 billion consolidated consolidated after tax profit was achieved, which is 17 percent higher than the previous year, according to MTI's report on the BSE website.

The accounting result for the first nine months was $ 22.3 billion, or $ 6.8 billion in the third quarter. The biggest item was a $ 5.7 billion reputation.

The return on equity (ROE) was 19.6%, with the Kielce Index reaching 19.3%, a year-on-year improvement of 0.1%.

According to the report, the result should be taken into account that the Croatian bank Splitska merged only in May and Vojvodjanska banka was in December. In addition, the exchange rate of Ukrainian hryvnia Russian kilenchav ruble decreased by 6 and 9 percent per year.

The improvement in the consolidated operating profit for the nine-month period is mainly due to the members of the foreign group. The results of Ukrainian, Croatian, Serbian and Montenegrin activities have improved, while the performance of OTP Core also increased, by 2 percent, to 139.6 billion dollars a year, and DSK Bank 5 percent 38.4 billion. The Russian operation of $ 18.9 billion for 9 months performance, which grew by 16% compared to last year, already includes the loss of $ 3.3 billion pounds of touch bank integrated into the Russian bank.

With the result of Splitska banka, the Croatian operation achieved almost 21 billion USD after tax profit in the first nine months. Serbian activity recorded a profit of $ 1.3 billion, and the improvement is also explained by the acquisition, and in the base period, only the performance of Vojvodjanska banka in December was consolidated.

The profit contribution of foreign members increased by 8 percentage points compared to last year to 41 percent in the first nine months, with 45 percent of the profits after tax coming from members of the foreign group in the third quarter.

Among the new banks included in the banking group in 2017, the profit of Splitska Banka was 12.4 billion HUF, while Vojvodjanska banka was HUF 2.4 billion.

The performance of the Ukrainian subsidiary (60%) remained outstanding in the banking sector in the last nine months, but Bulgarians (20.8%) and Russians (17.1%) also performed well in terms of capital gains (ROE). 10.9% ROE of the Croatian operation reflects an improvement of 2.1 percentage points on an annual basis.

Kilenchavi's consolidated revenue grew by 10% per year. Meanwhile, net interest income increased by 9 percent to HUF 443.4 billion, and net bond and commission income rose 8 percent to HUF 164.1 billion, without organic growth, organic growth was 5, 4, and 4 percent of total revenue , Net interest income and income from net commissions.

Consolidated operating expenses increased by 12% to NIS 357 billion in the first nine months of the year, with no protection in the acquisition of Splitska and Webbog, which increased by 6.8%.

Among the components of the adjusted third quarter results, the report highlights that operating profit improved by 7% to $ 7.4 billion compared to the previous quarter, while the overall cost of risk (HUF 2.5 billion) rose only slightly in absolute terms. Financing at an annual rate of 12% and 5% on a quarterly basis Net profit and commissions improved by 2% compared to the previous quarter, mainly due to a one-time item and a base result.

Total assets of the Bank Group at the end of September amounted to $ 362.6 billion, an increase of 14% in the first quarter of the quarter. Net portfolio of customer loans increased by 4 and 16 percent to 7908 billion HUF and customer deposits increased by 3 and 12 percent to 11,332.7 billion dollars in the quarter and quarter. The outstanding 90-day rate of interest was 0.9 in quarters, down 4 percentage points from the same period last year to 7.3 percent, and an increase of only $ 1.5 billion.

OTP shares are listed in the BSE premium category, while the closing price of the paper on Thursday was HUF 11,250, the 300 HUF higher than the previous day. Over the past year, the highest share of OTP shares was 11,780, the lowest of 9,510 prints.


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