OTP Bank to pay UAH 1.2 bln dividends for 2020
The Supervisory Board of OTP Bank in Ukraine has decided to pay UAH 1.2 bln dividends for 2020. This decision was made after the approval of the bank’s annual report and financial results in 2020 at the Supervisory Board meeting.
Based on 2020 results, the bank's profit amounted to UAH 1.7 bln against UAH 2.3 bln in 2019. At the same time, the bank's net interest income increased by UAH 137.5 million, and the total loan portfolio - by UAH 1.3 bln compared to 2019 and as of December 31, 2020 amounted to UAH 3.6 bln and UAH 31.3 billion, respectively. OTP Bank’s net fee and commission income remained practically unchanged compared to the previous year and amounted to UAH 1.2 bln against UAH 1.3 billion.
The main increase in the loan portfolio took place due to legal entities financing, portfolio to which grew by 13.2% (UAH 2.5 billion) to UAH 21.8 billion.
Totally, OTP Bank's assets increased over the past year by more than 30% (UAH 14.2 billion) and almost reached UAH 60 billion. That ensured the Bank’s place in the TOP-10 Ukrainian banks in terms of assets.
The maximum growth in 2020 was shown by the OTP Bank’s deposit portfolio, which increased by 35% (UAH 12.4 billion) and reached UAH 47.8 billion. Out of these the legal entities funds amounted to UAH 28.4 billion, which exceeds by 37% (UAH 7.7 billion) the 2019 level. Private individuals' funds in the bank grew by 32% (UAH 4.8 billion) and reached almost UAH 20 bln in 2020.
The regulatory capital increased by 26.4% (UAH 1.8 billion) to UAH 8.6 billion, which ensured the 25.4% of OTP Bank’s capital adequacy against 24% at the end of 2019 (while its necessary minimum equals to 10%).
According to the OTP Bank CEO, Volodymyr Mudryi, the financial institution headed by him remains one of the most profitable in Ukraine despite the difficult conditions for doing business in 2020 and entered TOP-5 of all banks in the country and the TOP-3 non-state banks in terms of profit. “The financial result is really significant and we plan to increase it. However, at different stages of development and under different market conditions, it is worth using other indicators of success achievement in the banking business. Today we pay more attention to the gross income generated by OTP Bank,” the banker emphasized.
More details about the OTP Bank’s results in 2020 are here.
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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.
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