OTP bank retail news

9M 2019 consolidated accounting after tax profit of OTP Group was HUF 309.6 billion (+29% y-o-y), of which 3Q represented HUF 131.6 billion (+25% q-o-q). The total volume of adjustment items in 9M represented -HUF 3.5 billion (after tax), of which +HUF 21.2 billion arose in 3Q. In 9M 2019 OTP Group posted HUF 313.1 billion adjusted after-tax profit underpinning a 19% y-o-y increase. Without the contribution of the newly acquired Bulgarian, Albanian, Moldavian and Montenegrin banks the profit would be HUF 294 billion (+14% y-o-y). The profit of OTP Core improved by 4% y-o-y and comprised HUF...

1H 2019 OTP Group’s consolidated accounting after tax profit was HUF 178 billion (+15% y-o-y). The total volume of adjustment items (after tax) in 1H represented -HUF 24.7 billion, o/w -HUF 6.9 arose in 2Q. In 1H 2019 OTP Group posted HUF 202.6 billion adjusted after-tax profit underpinning a 19% y-o-y increase. The profit already incorporated the net results of Express Group and the Albanian subsidiary, adjusted for that the 1H profit would be HUF 191.6 billion. The performance of OTP Core improved by 2% y-o-y and comprised HUF 97.4 billion. DSK Bank’s net profit (HUF 24.4 billion) remained...

The OTP Startup Program, OTP Bank’s second international accelerator program has come to an end. On the closing Demo Day, the 9 companies participating in the Program presented the results of the 12-week-long joint work to experts, potential investors and the credit institution’s management. The development of the best solutions is set to continue, along with the joint efforts of the Bank and the startups to incorporate them into the Bank’s operations. ​Last autumn, OTP Bank announced its second open call for startups. There was a great deal of interest in the OTP Startup Program, which is...

For the fourth year in a row, OTP banka has been selected for the best custodian bank in the Republic of Croatia in the unweighted category in the choice of Global Investor / ISF magazine. In the period from 1st of February until 14th of March this year, Custodian Clients had the opportunity to rate their securities services providers in over 10 categories, from quality of relationship management, settlement services and corporate actions, to quality of market information timely provided, including regulatory changes. OTP banka has been awarded with highest scores unweighted by size of...

1Q 2019 consolidated accounting after tax profit was HUF 72.6 billion (+12% y-o-y) versus HUF 65 billion in the base period. The accounting ROE was 15.9% (-0.3 pp y-o-y), whereas the adjusted ROE stood at 19.8%. The total volume of adjustment items (after tax) in 1Q represented -HUF 17.8 billion. The two material items were as follows: -HUF 15.2 billion banking tax paid by the Hungarian and Slovakian subsidiaries (after tax); -2.8 billion effect of acquisitions (after tax). In 1Q 2019 OTP Group posted HUF 90.4 billion adjusted after-tax profit underpinning a 14% y-o-y increase. The profit...

OTP Bank Plc. announces that OTP Bank signed an acquisition agreement on purchasing the majority stake of SKB Banka, the Slovenian subsidiary of Societe Generale Group and other local subsidiaries held by SKB Banka. With a market share of nearly 9%, SKB Banka is the 4th largest bank on the Slovenian banking market and as a universal bank it has been active in the retail and corporate segment as well. The financial closure of the transaction is expected in the coming months subject to obtaining all the necessary regulatory approvals. With this acquisition OTP Group is entering a...

As of today, 1th of April, OTP Bank announced that the financial closure of the Albanian transaction has been completed. As a result, OTP Bank has become the 100% owner of Banka Societe Generale Albania, the Albanian subsidiary of Societe Generale Group. With a market share of nearly 6 %, SGAL is the 5th largest bank on the Albanian banking market and as a universal bank it has been active in the retail and corporate segment as well. With the accession of the Albanian bank, OTP Group is already present in 10 countries in the Central and Eastern European region, becoming an even stronger...

Data Protection Policy is updated in part of processing personal data based on legitimate interest (chapter 5.) and related amendments coming into force on 23.03.2019. The updated Data Protection Policy you can find on following link Data Protection Policy.

The full year consolidated accounting profit was HUF 318.3 billion versus HUF 281.3 billion in the base period. During the course of the year total adjustment items comprised -HUF 7 billion (after tax), of which +HUF 15.3 billion (after tax) appeared within 4Q accounting profit. In 2018 OTP Group posted all-time high, HUF 325.3 billion (above EUR 1 billion) adjusted after-tax profit (+15% y-o-y).The effective tax rate declined by 1.3 pps to 10.3%. The before tax profit grew by 13% compared to the base year. Within the annual profit – given their individual weight – profit contribution from...

OTP Bank announced that Crnogorska komercijalna banka, the Montenegrin subsidiary of OTP Bank signed an acquisition agreement on purchasing the majority stake of Societe Generale banka Montenegro, the Montenegrin subsidiary of Societe Generale Group. With a market share of 11.5%, SGM is the 4th largest bank on the Montenegrin banking market and as a universal bank it has been active in the retail and corporate segment as well. As a result of this latest acquisitions our banking group will play a more decisive role throughout Europe but especially in the CEE region. The financial closure of...