OTP bank retail news

Hungarian small, medium-sized and large agricultural enterprises —with neighbouring countries as potential primary target markets— have a significant export potential even on the level of national economy. Domestic agricultural businesses, however, need to meet the following three major challenges if they are to be successful in foreign trade: profound knowledge of the target markets, extensive networks of relationships and a stable financial background for the required investments. Having recognised these needs, OTP Bank has launched a series of events, called Cross-Border Business Forum,...

Continuing the longstanding tradition of partnership with the Dubrovnik Summer Festival, OTP banka secured HRK 180,000 this year for the donation of the premiere performance of the drama "Držić – Viktorija od neprijatelja". At the press conference held on the occasion of the permiere, Director of Business Center Dubrovnik and Southern Dalmatia Ante Režić presented the check to the director of the Games Ivana Medo Bogdanović. The play "Držić - Viktorija od neprijatelja" directed by Ivica Boban and according to the dramatic concept of Hrvoje Ivanković is set on the occasion of the 450th...

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 representatives of the National Bank of Greece (NBG) and OTP banka Serbia (OBSr) have signed the agreement on the sale of Vojvodjanska banka, NBG Leasing and other Serbian exposures of the NBG Group. The agreed consideration for the share capital of Vojvodjanska banka and NBG Leasing amounts to EUR 125 million. As a result of the acquisition, the market share of OTP banka Serbia will rise to 5.7 percent, thus it will become the 7th largest bank of the Serbian banking market. “Over the recent years, OTP banka Serbia has achieved continuous growth and, according to our expectations, this...

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,...

Starting with this week, OTP banka and Splitska banka have enabled their clients, physical persons, the use of ATMs in both networks without fees. Banks jointly have a strong network of over 520 ATMs across Croatia. Splitska and OTP banka clients can withdraw cash using their debit cards on all ATMs in both banks' network. Cash withdrawal without fees pertains to debit cards of physical persons – clients of both banks. In case of other cards, fees for the use of other bank's ATM will be the same as stipulated by their bank. After the closed transaction by which OTP banka took over Splitska...

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...

Within its “Green Light for Knowledge” program, OTP banka awards scholarships to students of poor economic background again this year. The bank allocated more than HRK 4 million in the last seven years within this program. In the academic year 2016/2017, OTP banka allocated HRK 500,000 for 77 scholarships of pupils and students of poorer economic background from Zadar, Sisak, Čakovec and Benkovac, Župa Dubrovačka and Nuštar Municipalities and the University of Zadar. Scholarships are presented after public tenders have been conducted, while criteria were material and social position, as well...

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 banka introduced the most innovative loyalty program on the market - OTPetica, multi-functional application which allows users to collect points and win prizes, along with getting educated about banking products and services. After a year of preparations, following development of digital trends, OTPetica loyalty program was presented as a part of ongoing bank's investments in individualization of products and services. Application is free of charge for OTP clients and it can be easily accessed through its online channels - eLEMENT@ internet or mobile banking. It is designed in a way that...