OTP Bank reports 4Q 2012 financial results

OTP Bank JSC ended the fourth quarter of 2012 with a net profit of UAH 261.5 million according to the National Accounting Standards. The Bank has managed to earn a positive financial result by implementing comprehensive measures to optimize the operating structure, risk management, and developing new front-end product offerings and services to customers of different categories. The Bank’s net interest income at the end of the year reached UAH 1.7 billion, while commissions grew to UAH 400 million. For the fourth quarter, the Bank received interest income of UAH 759 million having gained a UAH 133 million increase compared to the same period last year.

The Bank’s assets (with the reserves taken into account) reduced slightly to UAH 20.3 billion compared to UAH 22.5 billion in 2011. The Bank’s total loan portfolio somewhat contracted to UAH 14.6 billion, wherein loans to legal entities accounted for UAH 9.5 billion, and loans to individuals comprised UAH 5.1 billion. The Bank’s assets (with the reserves) in 4Q 2012 increased by UAH 350 million QoQ, the amount of loan provided grew by nearly UAH 600 million.

The Bank’s total liabilities at the end of 2012 declined to UAH 16.8 billion compared to UAH 19.4 billion at the beginning of the year. Still, total deposit portfolio grew to UAH 8.97 billion from UAH 8.7 billion QoQ. Specifically, the corporate deposits decreased to UAH 3.43 billion, while funds deposited by individuals were up to UAH 5.54 billion.

The Bank’s equity capital was UAH 3.5 billion as of the end of the 4Q 2012 (against the normative requirement of UAH 120 million). Regulatory capital adequacy ratio established at the level of 13.77% (exceeding the regulatory normative of 10%).

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.