OREANDA-NEWS. November 11, 2009. JSC OTP Bank in the first nine months of 2009 maintained the positive dynamic of obtaining income. Thus, net interest income of the bank has grown by 48% compared to 1H 2009 and reached UAH 1.9 bln in 1-3Q 2009. In comparison with the same period of the previous year net interest income of the bank has increased by 89%. Interest income came in at UAH 3.1 billion, while interest expenses amounted to UAH 1.2 bln in the reported period.

Net commission income (UAH 225.6 mln in 1-3Q 2009) has grown by 90% compared to 1H 2009 and doubled in comparison with the similar period of 2008. 

Total assets of the bank as at 1 October 2009, amounts to UAH 29.9 bln. Loan portfolio – UAH 30.6 bln., including volume of loans granted to corporate clients, increased by 1.1% to UAH 14.3 bln. compared to the result of Q 2-d decreased by 5% to UAH 13.8 bln., private persons – by 0.2%  to UAH 16.3 bln.

Over the last 9 months total liabilities of the bank (excluding shareholders’ equity) decreased to UAH 27.6 bln, it’s determined by the bank’s repayment of its external credit obligations, in particular the syndicated loan: according to the facility agreement on syndicated dual tranche term loan amounting to USD 100 mln OTP Bank in September has paid off a tranche A representing USD 63 mln. Equity capital of OTP Bank amounts to UAH 2.4 bln.

At the same time, the tendency of further increase of clients’ funds has been observed in the Q3. Thus, funds of corporate clients and private individuals have grown up to UAH 3.34 bln and to UAH 3.33 bln respectively. As of 1 October this year the volume of private clients’ funds exceeds the result of the previous year by 17 %.

The 1-3Q 2009 cumulative after tax profit of the bank is negative (UAH -950,0 mln). The main reason behind the negative performance remains the substantial provisioning after possible loan losses, which amounted to UAH 2.6 bln. Thus, the volume of accumulated provisions enables the bank to remain liquid and financially stable and to be ready for any unpredicted crises situation. 

Regulatory capital adequacy ratio of the Bank remains high at 11.6%, exceeding the regulatory minimum of 10% by 1.6%point. Current liquidity amounts to 76.7%, again being well above the regulatory minimum of 40%.

JSC OTP Bank – is one of the biggest domestic banks, acknowledged leader of the Ukrainian financials sector. The Bank provides full range of financial services to retail, SME and corporate clients. In the Ukrainian market it’s presented since 1998, has the solid reputation of socially responsible, reliable and stable institution, rendering high quality products.  Its 100% owner is OTP Bank Plc, the biggest Hungarian retail bank. Its market share in total assets in Hungary is standing at 23% As at June 2009. and this year it celebrated the 60th anniversary of its foundation.

According to the Association of Ukrainian Banks as at 1 September 2009 OTP Bank is the 7th largest bank in terms of assets. Currently, the bank services more than 320 thousand customers. Its branch network consists of 204 sales points and 20 representative offices all over Ukraine.