OTP Bank have fully capitalized its profit for 2008

On April 23, 2009 General Shareholders meeting took place during which the decision about distribution of the profit of CJSC OTP Bank for 2008 in the amount of UAH 76,6 mln to the Bank’s reserve fund. Besides, shareholders have approved External Auditors and Audit Commission reports concerning the financial statements of the Bank for the year 2008.

According to the Chairman of the Supervisory Board Mr. Pal Kovacs OTP Bank Ukraine is rather stable financially today. «We have completed requirements of the local Government and the National Bank to recapitalize the bank. Currently, the normative of bank’s capital adequacy is much higher than regulation norm and comprises 15,24%. Shareholders of the Bank do not consider any variants of subsidiary take-over and plan to further develop it as we consider it to be a reliable long-term investment. Moreover, we expect rather fast and dynamic growth of the local market after crises and intend to substantially increase our market share» - underlines Mr. Kovacs.