OTP expects lending portfolio to expand in 2012
Hungary's OTP Bank expects its consolidated stock of loans to start growing in 2012, adjusted for foreign exchange rate changes, and it sees the deterioration of the lending portfolio slowing, deputy-CEO László Bencsik said at a press conference on Friday, after the bank published its Q4 report.
Double-digit growth is expected among consumer loans in Russia and Ukraine, and the bank projects a significant rise in layouts of corporate loans in Hungary, Bencsik said.
Operating costs are expected to rise about a nominal 5% at group level, similar to previous years, mainly because of the pickup in consumer lending in Russian and Ukraine, he added.
OTP Bank's gross consolidated stock of client loans, adjusted for foreign exchange rate changes, edged down 2% to HUF 8,108.6 billion in the twelve months to the end of last December, the lender's report shows.
Bencsik said OTP Bank had net liquidity reserves of €4.211 billion in February 2012. The liquidity reserves were up from €3.829 billion in 2010.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.