Are you sure?

OTP raises risk-reserve coverage on delinquent loans to over 75%

OTP Bank raised its risk-reserves on loans over 90 days past due to 75.1% of the sum of these loans during the third quarter, the OTP Deputy CEO Laszlo Bencsik announced on Friday morning.

Bencsik said that OTP had raised its risk-reserve coverage on loans over 90 days past due in spite of the fact that, calculated without the effect of exchange rates, the rise in the bank’s portfolio of such loans slowed to HUF 49bn in Q3 from HUF 54bn in Q2.

OTP Bank placed altogether HUF 59bn into risk-reserves during the third quarter, Bencsik added.