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

Hungary's GDP drop in 2020 slightly better than OECD total r... Analysis

Hungary's GDP drop in 2020 slightly better than OECD total r...

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

Gábor Király named managing officer of Dentons Budapest Appointments

Gábor Király named managing officer of Dentons Budapest

BKK introducing single digital tickets City

BKK introducing single digital tickets

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.