OTP profits rose 55%

Banking

Tupungato/Shutterstock.com

Second-quarter after-tax profit of OTP Bank, Hungary's biggest commercial lender, rose 55% year-on-year to HUF 121.8 billion as risk costs declined, according to an earnings report released yesterday on the website of the Budapest Stock Exchange.

Net interest revenue rose 8% to HUF 210.6 bln.

Net revenue from commissions and fees increased 21% to HUF 80.3 bln. OTP's risk costs came to HUF 9.7 bln, well under the HUF 39 bln in the base period, when pandemic provisions weighed. Earnings per share came to HUF 474 for the period.

OTP had total assets of HUF 24.551 trillion at the end of June, up 13% from twelve months earlier. Gross stock of client loans increased 9% to HUF 14.905 tln.

Client deposits rose 12% to HUF 18.259 tln. The ratio of non-performing loans in the portfolio stood at 3.6%.

ADVERTISEMENT

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga Analysis

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.