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OTP Bank JSC reports UAH 54.7 mln net profit in the first half of 2010 according to IFRS, which means excellent performance compared to the negative financial result for the same period in 2009. The fulfillment of the net interest income targets driven by cheaper financial resources, the outstanding commission income as well as further strong control over costs and lower level of provisioning are considered to be the major contributors of the above result in the reporting period. Thus net interest income during first 6 months of 2010 reached UAH 1.03 bln, net commission income amounted to UAH 135.3 mln (up 13% compared to 1H 2009). Operational expenses of the Bank were kept on the same level as of the respective period of the last year.
As of June 30, 2010, the Bank’s total assets and total liabilities reached UAH 27.2 bln and UAH 23.3 bln respectively. Loan portfolio decreased to UAH 23.7 bln. At the reporting date, the Bank’s deposits from customers reached UAH 7.04 bln, which means a 17.7% growth compared to June 30 last year.
As of June 30, 2010, the total capital of JSC OTP Bank reached UAH 3.92 bln. The capital adequacy ratio (CAR) was at the strong level of 27% in accordance with IFRS and Basel accord. Current liquidity ratio under NBU stands at 88%, while the minimum limit is 40%.
Main Financial Figures (under IFRS):
For more information on the bank’s performance and figures, please find more materials on pages:
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