OTP Bank reports 2Q 2012 financial results
OTP Bank JSC ended the second quarter of 2012 with a net loss of UAH 32.3 million according to the National Accounting Standards, which was due to the reasonable need to form significant bad loans provisioning. Principally, the Bank is committed to prudent credit and financial policy on the background of global financial instability and increased systemic risks in the international and domestic banking markets. The Bank’s net interest income for the reported quarter reached UAH 710.7 million, while commissions grew to UAH 181.3 million.
The Bank’s assets (with the reserves taken into account) reduced slightly to UAH 21.3 billion compared to UAH 23.2 billion in the previous period. The Bank’s loan portfolio in 2Q 2012 made up UAH 15 billion, wherein loans to legal entities accounted for UAH 9.6 billion, and loans to individuals comprised UAH 5.4 billion.
The Bank’s total obligations in 2Q 2012 declined to UAH 18.1 billion vs. UAH 19.4 billion at the beginning of the year. Still, total deposit portfolio grew to UAH 9.2 billion from UAH 7.9 billion in the previous quarter. Specifically, the corporate deposits decreased to UAH 3.7 billion, while funds deposited by individuals were up to UAH 5.5 billion.
The Bank’s equity capital was UAH 3.2 billion as of the end of the second quarter. Regulatory capital established at UAH 4.1 billion, with the regulatory capital adequacy ratio of 19.12% (almost twice 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.