JSC OTP Bank reports a solid 3Q 2011 net profit of UAH 444.9 million according to Ukrainian accounting standards, having more than twofold outperformed the result for the same period last year (UAH 204.8 million).
As a result of the extraordinary efforts taken, the Bank managed to improve other key performance indicators as well. In particular, corporate loan book kept on growing and made up UAH 12.25 billion compared to UAH 11.29 billion at the end of the prior financial year. Due to still reduced volumes of retail lending, retail loan portfolio further contracted to UAH 7.5 billion as of the end of 3Q 2011. The Bank is especially committed to improvement of the loan portfolio quality and effective NPL management. In general, the Bank's assets reduced slightly to UAH 22.8 billion in 3Q 2011, which means UAH 1.9 billion decrease compared to the end 2010.
The Bank's liabilities demonstrated solid growth in the third quarter of 2011, both for retail and corporate balances. In particular, retail deposits increased in 3Q 2011 from UAH 3.9 billion to UAH 4.1 billion, and corporate deposits grew by UAH 1.3 billion to UAH 4.2 billion since the end of last year.
The Bank’s equity capital remained almost flat at UAH 3.25 billion. JSC OTP Bank regulatory capital made up UAH 4.55 billion (while the capital normative requirement is UAH 120 million). The regulatory capital adequacy ratio (CAR) established at the level of 20.29%, which is twice as much as required by the normative CAR minimum of 10%. Current liquidity ratio equalled 49.14%, while the minimum limit is 40%. EPS of JSC OTP Bank for the third quarter reached UAH 2,434.35. For reference, OTP Bank paid UAH 500.3 million dividends according to the 2010 year results.
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.