OTP Bank Nyrt (OTPB.BU)

OTPB.BU on Budapest Stock Exchange

22 Nov 2017
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Latest Key Developments (Source: Significant Developments)

OTP says actively pursues acquisitions in Slovakia
Friday, 10 Nov 2017 

Nov 10 (Reuters) - Hungarian OTP Bank Deputy CEO Laszlo Bencsik tells pres conference: :OTP still wants to grow in size and profitability in Slovakia.Fewer possibility for acquisitions in small and concentrated market like Slovakia.OTP says has had talks in Slovakia recently.Group dividend policy of roughly 15 percent increase in dividend unchanged.  Full Article

OTP sees further loan growth, acquisitions go smoothly
Friday, 10 Nov 2017 

Nov 10 (Reuters) - OTP Bank Nyrt Deputy CEO Laszlo Bencsik tells news conference::If all goes well loan growth at OTP can accelerate further.OTP to consolidate Serbian Vojvodanska Banka by end of year, Romanian Banca Romaneasca in Q1 2018.Croatia's Splitska Banka has been consolidated fully, any adverse capital adequacy effects have faded out, offset by profitability.Margin squeeze in Hungary rooted in increased competition amid fast growing lending volumes.External business environment "outstanding", helping to improve loan quality and collateral values.Series of acquisitions has taught OTP to integrate even fairly large new banks quickly and efficiently.  Full Article

Hungary's OTP Bank posts robust Q3 profit as loans grow
Friday, 10 Nov 2017 

Nov 10 (Reuters) - Hungary's OTP Bank says in Q3 earnings report published on Budapest Stock Exchange web site:Net profit of 79.33 billion forints ($296 million), beating forecast of HUF 70.14 billion.In line with HUF 80.7 billion Q2, higher than HUF 68.75 billion in Q3 last year.ROE 20.3 pct 22 pct in Q2 and 20.8 pct in Q3 2016.Surprise comes as tighter interest rate margin is offset by lower risk costs, dynamic loan growth.Organic loan growth 10 pct in past year, two completed and two ongoing acquisitions add another 25 pct to that.Loan book up 22 pct at end-Q3.Risk costs in quarter HUF 4.3 bln, 0.05 pct of loan book.Interest rate margin 4.42 pct, down 0.4 pct point y/y.Dynamic growth strategy to continue amid favourable environment.Beyond capital required for organic growth bank to allocate significant part of generated excess capital for further acquisitions. .Subject to planned and executed acquisitions, organic growth and profitability, bank to increase annual dividend.Total revenue up 10 pct y/y, interest revenue up 5 pct y/y, revenue from fees up 17 pct y/y.Operating expenses up 13 pct y/y.CET1 ratio target 15 pct, sees it moving in 12/18 pct range.Non-performing loan rate 11.2 pct vs 12.2 ct in Q2, 15.8 pct yr ago.Core Hungarian unit's profit grows 20 pct y/y, main profit centres abroad are Bulgaria, Russia, Croatia.  Full Article

Hungary's OTP plans no major domestic acquisitions -CEO
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Otp Bank Nyrt :Plans no acquisition of larger domestic rivals, Chairman and Chief Executive Sandor Csanyi tells financial news website portfolio.hu..Hungarian bank taxes still too high compared with elsewhere in Europe, CEO says..Acquisitions of small and medium-sized banks abroad could continue in the next 1-2 years, CEO says..OTP not planning to enter new countries with a low market share..  Full Article

OTP to buy five or more banks in next two years - BBG
Monday, 2 Oct 2017 

Oct 2 (Reuters) - OTP Bank Zrt CEO Sandor Csanyi tells Bloomberg in interview::Plans to "buy at least five banks" in next two years..Share of foreign revenue to rise to 70 percent from current 45 percent..  Full Article

OTP Bank expects to maintain strong profitability after Q2
Friday, 12 Aug 2016 

OTP Bank Nyrt : Deputy CEO Bencsik says expects continued strong performance by Russia, Ukraine units in second half . Consolidated performing loan book to increase this year . Affirms earlier guidance for 25 bps y/y decline in net interest margin for 2016 . Hopes to maintain strong levels of profitability after Q2 . Does not expect further decline in risk costs in second half . Q2 net profit above market expectations [nL8N1AS58Q] . Shares gain 1.4 pct, outperform blue chip index Further company coverage: [OTPB.BU] (Reporting by Gergely Szakacs) ((gergely.szakacs@tr.com; +36 1 327 4748; Reuters Messaging: gergely.szakacs.thomsonreuters.com@reuters.net)).  Full Article

OTP Bank Q2 net profit HUF 71.9 bln, beats forecasts
Friday, 12 Aug 2016 

OTP Bank Nyrt :. Company's Q2 net profit 71.9 billion forints ($258.62 million) compared with analyst forecast of 61.6 billion in portfolio.hu survey, and 38.2 billion in year-ago period - earnings report .. Net profit boosted by 13.2 billion forint income from stake sale in Visa Europe .. Q2 revenues 180.34 billion forints compared with 180.5 billion analyst forecast, and 191.14 billion a year earlier .. Q2 risk costs 12.07 billion forints vs 20.5 billion analyst forecast, and 45.32 billion a year ago .. Good chance that decline in retail loans for bank sector as a whole ends this year; volumes could start growing in 2017 .. Could reach over 15 pct ROE guidance this year based on first-half results, earlier than 2017 management guidance .. Total stock of loans more than 90 days past due falls to 16.4 pct .. Consolidated loan book shrinks by 3 pct y/y, stock of deposits rises by 5 pct y/y Further company coverage: [OTPB.BU] ($1 = 278.01 forints) (Reporting by Gergely Szakacs) ((gergely.szakacs@tr.com; +36 1 327 4748; Reuters Messaging: gergely.szakacs.thomsonreuters.com@reuters.net)).  Full Article

OTP Bank Deputy CEO sees benign operating environment
Friday, 13 May 2016 

OTP Bank Nyrt : Benign operating environment to continue - Deputy CEO . Benign risk environment allows lower risk provisioning, higher profits - Deputy CEO . Tight margins expected to be the norm amid low interest rate environment around the region, employing other revenue streams - Deputy CEO . Expects GDP growth in core Hungarian market at around 2 pct as EU funding ebbs in 2016 . Growth in Hungary to return to 3 pct range in later years as funds kick in from next EU budget period . Corporate loan book up 3 pct Q/Q, up 6 pct Q/Q in Hungary, mkt share reaches 14.5 pct, close to No. 1 position - Deputy CEO First-quarter earnings report: [nL5N18A0C2] Further company coverage: [OTPB.BU] (Reporting by Marton Dunai) ((marton.dunai@thomsonreuters.com;)).  Full Article

BRIEF-OTP sees further loan growth, acquisitions go smoothly

Nov 10 OTP Bank Nyrt Deputy CEO Laszlo Bencsik tells news conference: