Last year OTP Bank’s income exceeds 2,5 billion
According to the IFRS financial report, last year OTP Bank has recorded 2,54 billion UAH in net profit due to profitable operational activities and consistent implementation of a balanced credit and financial policy.
OTP Bank’s net interest income in 2019 equals 3,44 billion UAH, an increase of 532 billion UAH compared to the result of 2018. OTP Bank’s net fee and commission income reached 1,30 billion UAH.
Last year OTP Bank’s assets has reached 44,78 billion UAH, adding 12,02 billion UAH to the indicator of 2018.
According to the results of 2019, the loan portfolio before the deduction of reserves for covering credit losses of OTP Bank amounted 29,66 billion UAH. The volume of loans and debts of legal entities and entrepreneur individuals amounted 19,25 billion; the volume of loans granted to individuals equals 10,41 billion UAH.
According to the results of 2019, OTP Bank deposit portfolio has demonstrated an increase of 8,55 billion UAH to 35,40 billion UAH. Also, the amount of funds of legal entities equals 20,75 billion UAH. According to individual account balances an increase to 14,65 billion UAH was recorded.
At the end of 2019, the Bank’s regularly capital equals 6,81 billion UAH (with a regulatory requirement at least of 120 million UAH). The regular capital adequacy ratio on the 1st of January 2020 is fixed at 23,54% (with a standard of at least 10%).
«The year of 2019 is a very successful year for the banking sector, but currently we are experiencing the end of an era, which lasted for four years. This period enables us to focus on strategic challenges. The increase of assets is the main issue of our focus in 2019. Financial results are paramount evidences, which confirm that OTP Bank is one of the most successful, fast-growing, effective and profitable banks on the Ukrainian markets, which plays a paramount role in the development of the Ukrainian economy. Additionally, we are ready to face challenges, which might occur in 2020, - notes the Head of the OTP Bank Management Board Tomash Hak-Kovach.
Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.