Hungarian units of OTP Bank generated after-tax profit of HUF 43.5 billion in Q2, but its foreign units racked up a combined loss of HUF 1.2 billion, the bank’s consolidated IFRS report for the period published on Thursday shows.
Profit of the Hungarian units were up from HUF 36.7 billion in Q2 2009, but the loss of the foreign units came after a HUF 5.0 billion profit.
In a unit-by-unit breakdown, OTP Bank said its main business in Hungary generated after-tax profit – without dividend and net transfers – of HUF 42.0 billion in Q2, up 13% from the same period a year earlier. Provisioning, however, shot up 163% to HUF 50.8 billion.
The bank’s leasing unit, Merkantil, racked up a HUF 1.3 billion loss, after booking small profits in Q2 2009 and Q1 2010.
DSK, OTP Bank’s unit in Bulgaria, had after-tax profit of HUF 4.7 billion in Q2, inching up 2% from the same period a year earlier. But the unit’s NPL ratio climbed to 9.5% from 7.9% in the previous quarter and 5.7% in Q2 2009.
After-tax profit of OTP Bank’s recently consolidated unit in Russia reached HUF 3.6 billion. The unit’s NPL ratio was 16.7% at the end of June, up from 13.0% three months earlier and 13.9% twelve months earlier.
In Ukraine, after-tax profit came to HUF 963 million in Q2, up from a loss of about the same size in Q2 2009. The unit’s NPL ratio rose to 27.3% in Q2 from 23.5% in Q1 and 11.2% in Q2 2009.
OTP Bank’s Romanian unit had a second-quarter loss of HUF 2.0 billion, compared to profit of HUF 1.3 billion in the same period a year earlier. The bank’s NPL ratio nearly doubled to 8.4% in Q2 from 4.4% in Q1 and 1.9% in Q2 2009.
In Croatia, after-tax profit came to HUF 662 million, down 40%. The unit’s NPL ratio rose to 11.9% in Q2 from 9.0% in Q1 and 9.3% in Q2 2009.
The bank’s unit in Slovakia had a loss of HUF 817 million in Q2, growing from a loss of HUF 538 million in the same period a year earlier. NPL ratio at the bank grew to 10.3% in Q2 from 9.8% in Q1 and 6.5% in Q2 2009.
In Serbia, losses grew to HUF 824 million from HUF 265 million. NPL ratio was a high 38.5% in Q2, up from 37.6% in Q1 and 14.4% in Q2 2009.
Losses in Montenegro jumped to HUF 6.5 billion from HUF 410 million. NPL ratio climbed to 22.1% in Q2 from 14.1% in Q1 and 4.2% in Q2 2009. (MTI-Econews)