OREANDA-NEWS. November 22, 2010. JSC OTP Bank reports UAH 204.9 mln financial result in 3Q 2010 according to the National Accounting Standards while the same financial indicator was reported to be UAH -950.0 mln in the respective period of 2009. Thanks to the pioneer client protection programs introduced, the high level customer care of the Bank and simplified service processes, the net interest income reached UAH 1.5 bln while net commissions amounted to UAH 177.2 mln. Furthermore owing to the strict operational and personal expenses management, while also focusing on work efficiency, operational expenses stayed at a reasonably favourable level of UAH 228.0 mln (UAH 281.8 mln in Q3 2009). As a consequence of all the above the Bank has operated at a profit throughout 2010.

As of September 30, 2010, the Bank’s total assets made up UAH 26.2 bln (UAH 29.9 bln as of September 30, 2009). As from 2Q 2010, JSC OTP Bank has started active corporate lending, which boosted the corporate loan portfolio growth by above UAH 0.5 bln. The Bank’s loan portfolio reached UAH 23.9 bln, wherein corporate loans amounted to UAH 11.3 bln in 3Q 2010 and retail loans made up UAH 12.6 bln.

Due to the better macroeconomic circumstances, the stabilized local currency as well as the extraordinary efforts taken by the Bank to improve the quality of the total loan book, the delinquent credit portfolio of the Bank shows quicker than market average stabilization.

On the liabilities side the total deposits of the Bank decreased to UAH 23.2 bln driven by repayments of some significant amount syndicated loans to various Western European financial institutions. In terms of customer liabilities the Bank’s corporate deposits have shown solid growth over the whole period and at the reporting date reached UAH 3.4 bln, while retail deposits totalled UAH 3.8 bln.

As of September 30, 2010, the regulatory capital of JSC OTP Bank reached UAH 4.6 bln (compared to UAH 3.5 bln as of September 30, 2009)). The regulatory capital adequacy ratio (CAR) established at the level of 20% being twice as much as required by the normative CAR minimum of 10%. Current liquidity ratio is 79.04%, while the minimum limit is 40%.