OTP bank retail news

In cooperation with the City of Sisak, OTP banka will support “Sisak Entrepreneur 2016“ project. Entrepreneurial loans will be granted from credit fund worth HRK 20 million at favorable fixed interest rate. Business cooperation agreement in this project was signed by OTP banka CEO Balázs Békeffy and Sisak Mayor Kristina Ikić Baniček. Credit fund in the amount of HRK 20 million will be available for HRK loans to entrepreneurs with fixed 5.5 percent annual interest rate. End beneficiaries who construct, refurbish or purchase business properties will be offered very affordable interest rate of...

The banking group has still strong liquidity and capital position, with strong Hungarian and Bulgarian performance. The consolidated accounting profit for the last 12 months was HUF 63.2 billion versus a loss of HUF 102.3 billion in the base period. The material y-o-y change was related mainly to the adjustment items. In 2015 the total volume of adjustments amounted to HUF -57 billion after tax, which is materially lower than HUF -220 billion booked in the base period. In 4Q 2015 adjustment items represented HUF +10.1 billion after tax (3Q: -38.3 billion). OTP Group posted HUF 120.2 billion...

AXA Bank Europe SA and OTP Bank signed a business unit purchase agreement with AXA Bank Hungary. The transfer of the business unit agreement includes AXA Bank's retail credit and savings, as well as corporate area and the employees of AXA Bank. The retail-focused AXA Bank is present in Hungary since 2009. AXA Bank offers innovative online customer service in the savings business, and it is mainly considered to be strong in mortgage lending in the domestic market. After the completion of the purchase OTP Bank's mortgage portfolio will increase with almost 25%. The largest Hungarian financial...

Although in the 3q OTP Group’s profit has decreased, the first nine month showed positive developments on y-o-y. The banking group has still strong liquidity and capital position. The 9M accounting after tax profit was HUF 36.5 billion versus HUF 113.2 billion loss in the corresponding period of last year. However, those periods are hard to be compared since adjustment items varied a lot. In 9M 2015 within the Group’s accounting result the 9M adjustments represented more than HUF -67 billion in total against HUF -221 billion in the base period. In 9M 2015 OTP Group posted around HUF 104...

In 1H 2015 OTP Group posted HUF 68.9 billion adjusted after tax profit. The 1H accounting after tax profit was HUF 40.1 billion versus HUF 147.3 billion loss in the corresponding period of last year. However, those periods are hard to be compared since adjustment items varied a lot. As a result, in the Group’s accounting result the 1H adjustments represented HUF -28.8 billion in total against HUF -221.6 billion in the base period. In 1Q 2015 those items represented HUF -26.4 billion, whereas in 2Q their magnitude melted to HUF -2.4 billion. The FX-adjusted consolidated loan portfolio...

Within its program "Green Light for ...  Better Society" OTP banka selected 40 projects on a public tender to award a total of HRK 400,000. OTP banka had been organizing public donation tenders for the past three years, enabling orgnizations to apply projects in four categories: youth, education and science, preservation of cultural, historical and traditional heritage and environmental protection, humanitarian projects and sports. Hundreds of applications were submitted from all over the Croatia and the commission has chosen 40 projects that have distinguished themselves with quality...

OTP Group posted HUF 28.3 billion adjusted profit in 1Q 2015 which means a 20% decline y-o-y, but massively exceeds the previous quarter. The significant quarterly improvement is reasoned mainly by lower risk costs, but the operating profit also improved by 8%. The quarterly accounting profit was HUF 1.9 billion versus a profit of HUF 10.9 billion in the previous quarter and HUF 5.9 billion in 4Q 2014. In 1Q 2015 the total volume of adjustments amounted to -HUF 26.4 billion. The most important adjustment items were the special banking tax imposed on the Hungarian and Slovakian banks (HUF -28...

In 2014, OTP banka continued to strengthen its market shares in all strategic segments. With the successful integration of BPC and fully covered acquisition costs, OTP banka recorded profit. Along with successful integration of Banco Popolare Croatia, OTP banka ended 2014 with HRK 155.2 million net profit. Banking business operations exceeded planned values in the segment of operating income and lower operating costs. Income from interest in the previous year was under the negative impact of the reduction of interest rates on retail loans, conditioned by the drop of the reference interest...

After seven months, the process of integrating of the two banks is successfully completed. On December 1, 2014, legal and IT integrations of Banco Popolare Croatia into the OTP banka system were finalized. Decision made by the Commercial Court in Zadar on December 1, 2014 OTP banka concluded legal integration process of Banco Popolare Croatia. OTP banka started the integration project after the purchase of BPC on April 24 this year. In an impressive period of only seven months the integration was prepared, while preparations for technical integrations were concluded within four months....