Press conference entitled «Presentation of the New Strategy of the Work of JSC OTP Bank in Ukraine»

 

Hereby we would like to inform you that, May 22, the press center of the Interfax-Ukraine news agency hosted a press conference entitled «Presentation of the New Strategy of the Work of JSC OTP Bank in Ukraine. The Reasons for Reshuffling the Bank's Top Management» with Mr. Istvan Hamecz, Chairman of the Supervisory Board of JSC OTP Bank, and Mr. Tamas Hak-Kovacs, Chairman of the Board of JSC OTP Bank, as speakers thereon.

Mr. Istvan Hamecz presented a brief summary of business and future plans of OTP Group in respect of the Ukrainian subsidiary bank. As it was demonstrated by specific data, the efficient and sustainable performance of OTP Group is confirmed by a number of important indicators:

  • Adjusted after-tax profit remained stable, the before tax profit without one-off items grew by 5%;
  • Capital adequacy ratios are comfortably above the regulatory minimum on the consolidated level as well as at the different group members;
  • OTP Bank was among top three leaders based on the EBA stress tests results –without any state capital injection or capital raising from the market, OTP Bank excelled its main competitors in the region (Erste Bank, Raiffeisen Bank International, UniCredit Group, Commerzbank etc.);
  • Significant liquidity buffer is to guarantee stable operation of the bank, even in tough crisis period;
  • Excellent performance of OTP share price reflected the stable operation and the outstanding profitability compared to the regional peers.

Regarding the future plans for the subsidiary bank in Ukraine, Mr. Hamecz once again confirmed that the Group has strong and long-term commitments to lead successful and sustainable business on the Ukrainian market, expand business opportunities and support the Ukrainian subsidiaries to the full extent.

Mr. Tamas Hak-Kovacs shared his view of the situation on the Ukrainian market, identified the reasons why it becomes increasingly difficult to remain profitable in this market, and presented the bank’s business priorities for the current year. First of all, he stressed the importance of maintaining the universal banking model, referring to the following strategic objectives:

  • Maintaining and building-up positions in large corporate business segment;
  • Establishing more effective service models for mid-caps;
  • Further focus on the premium segment and affluent clients;
  • Advancing POS-lending, credit cards and cash-loans, rapid boosting of market share in this segment.

Thus, the bank managers have brought the basic messages to the media: we have professional financial solutions based on market analysis and customer insight; we have all the resources and competitive advantages to further increase our market share; Ukrainian OTP Bank is a member of the stable, innovative and developing banking group.

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.

In Ukraine, JSC OTP Bank is captaining a financial group, which includes OTP Capital Asset Management Company, OTP Leasing LLC, OTP Pension Funds Administrator LLC, OTP Credit LLC, and OTP Factoring Ukraine LLC.

Published: 23.05.2012