OTP Bank is among the most efficient banks in Ukraine in 2021
OTP Bank took the fourth place in the list of the most efficient banks of Ukraine in 2021, according to the CASE Ukraine website.
The ranking is based on the Cost-to-Income ratio (CIR) - the ratio of operating expenses to operating income. This figure in OTP Bank is 37%, according to an analytical note published on the company's website. It also states that the key reason for OTP Bank's high operational efficiency was its business model.
“During 2021, the bank significantly increased hryvnia lending to businesses and individuals. At the same time, the bank continued to improve the quality of its loan portfolio and pursued a prudent credit risk management policy,” commented Roman Masyk, Head of the Financial Controlling Department of OTP Bank.
In general, Cost-to-Income ratio of the Ukrainian banking system in 2021 improved to 54.8% from 59.5% the year before, according to the CASE Ukraine website.
CASE Ukraine is an independent, non-profitable and non-governmental organization engaged in economic researches, analysis and macroeconomic policy forecasts.
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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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