Monday , September 26 2022

OTP – has gone a long way


Loans to OTP Bank both at the Group and at the parent bank grow dynamically – OTP Bank Vice President László Bencsik said at a press conference on the third quarter of OTP in 2018 on Friday in Budapest.

Consolidated performance credits rose 4% in the third quarter of this year, up 839 billion forints in the first nine months of this year, adjusted for the exchange rate. In Hungary, total outstanding loans grew in all major sectors, while corporate loan portfolios and SMEs grew 27 percent year on year.

According to the MTI report, the deputy general manager said that in the case of the parent bank, mortgage loans increased by 11% over the previous year. The consumer credit portfolio for Ukrainians, Russians and Serbs has increased spectacularly compared to annual subsidiaries. As a result of the dynamic increase in the volume of loans, the interest rate on loans / deposits increased to 72 percent.

László Bencsik stressed that if we look at newly borrowed retail loans, loans in Hungary grew 46% over the previous year in the first nine months of this year, while personal loans rose by 55%. In the provision of personal loans, Ukraine's OTP subsidiary has a unique 96% increase in the first three quarters of this year.

László Bencsik said net interest income fell further within the OTP group, from 4.56% last year to 4.3% in the first nine months, but slightly in quarterly terms, with 5 basis points to 4.25% in the second quarter to 4.3%.

In OTP's Hungarian operations, the bank obtained a market share of 30.1 percent of the contractual mortgage loans in the first nine months. Compared to last year, the bank's market share rose from 31.1% in 2017 to 31.7% in the first nine months of this year.

The Deputy Executive Director indicated that since the start of the program, the total family allowance (OCP) paid through OTP has increased to HUF 109 billion by the end of the first three quarters of this year.

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