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OTP Q1 profit increases 20.4% yr/yr to Ft 46 bln

OTP Bank Rt had net profit of Ft 46.19 billion in the first quarter of 2006, 20.4% more than in the same period a year earlier and up 13% from Q4 2005, the bank said in its consolidated report for the period, prepared with International Financial Reporting Standards (IFRS) and published on Monday.

Annualized consolidated return on equity fell to 34% in Q1 2006 from 35.5% in Q1 2005. Return on assets rose to 3.47% from 3.45% during the same period.
Net interest revenue was Ft 71.3 billion in the first quarter, up 9% from the same period a year earlier, but down 10.9% from Q4 2005. The bank's net interest margin fell 97 bp to 5.35% in Q1 2006 from the same period a year earlier.