OTP Group

OTP's corporate loans rose 27.2% yoy to HUF 3,794,060 mil in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group's loans reached HUF 10,157,400 mil in the second quarter of 2019, up from HUF 9,758,780 mil when compared to the p...

OTP's net profit rose 17.7% yoy to HUF 105,266 mil in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group made a net profit of HUF 105,266 mil in the second quarter of 2019, up 17.7% when compared to the same period of last y...

OTP's npls (as % of loans) fell 32.2% yoy to 5.52% in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group's non-performing loans reached 5.52% of total loans at the end of 2019-06-30, down from 8.15% compared to the previous ...

Profit Statement 2016 2017 2018
Net Interest Income HUF mil 519,729 553,755 624,723
Net Fee Income HUF mil 222,991 261,193 277,675
Other Income HUF mil 43,247 48,193 62,329
Total Revenues HUF mil 785,967 863,141 964,728
Staff Cost HUF mil 191,443 213,886 251,041
Operating Profit HUF mil 329,868 363,690 391,445
Provisions HUF mil 93,472 40,848 39,287
Net Profit HUF mil 202,210 281,142 318,233
Balance Sheet 2016 2017 2018
Interbank Loans HUF mil 363,530 462,180 420,606
Customer Loans HUF mil 6,680,500 7,690,420 8,066,590
Debt Securities HUF mil 2,831,100 3,829,470 3,805,720
Total Assets HUF mil 11,209,000 13,190,200 14,590,300
Shareholders' Equity HUF mil 1,420,650 1,640,050 1,826,660
Interbank Borrowing HUF mil 543,774 472,068 392,706
Customer Deposits HUF mil 8,540,580 10,233,500 11,285,100
Issued Debt Securities HUF mil 224,358 326,348 499,395
Ratios 2016 2017 2018
ROE % 15.2 18.4 18.4
ROA % 1.85 2.30 2.29
Costs (As % Of Assets) % 4.17 4.09 4.13
Costs (As % Of Income) % 58.0 57.9 59.4
Capital Adequacy Ratio % 16.0 14.6 18.3
Net Interest Margin % 4.75 4.54 4.50
Loans (As % Of Deposits) % 78.2 75.1 71.5
NPLs (As % Of Loans) % 14.7 9.20 6.32
Provisions (As % Of NPLs) % 96.8 99.3 118
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 7,532 10,892 10,927
Share Price (End Of Period) HUF 8,400 10,720 11,720
Price/Earnings (P/E) 10.9 10.0 9.65
Price/Book Value (P/BV) 1.56 1.71 1.68
Dividend Yield % 2.40 2.20 1.88
Earnings Per Share (EPS) HUF 768 1,069 1,215
Book Value Per Share HUF 5,376 6,263 6,974
Dividend Per Share HUF 202 236 221

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summary Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                        
Net Interest Income HUF mil ...                         645,466 653,728 636,099 550,430 519,729    
Total Revenues HUF mil ...                         830,659 874,392 801,880 844,223 785,967    
Operating Profit HUF mil ...                         372,653 347,621 293,187 378,707 329,868    
Net Profit HUF mil ...                         121,690 64,199 -101,985 63,583 202,210    
balance sheet                                        
Interbank Loans HUF mil ...                         356,866 273,479 281,006 300,569 363,530    
Customer Loans HUF mil ...                         7,618,370 7,480,840 6,993,330 6,423,590 6,680,500    
Debt Securities HUF mil ...                         2,063,350 2,632,910 1,837,800 2,414,520 2,831,100    
Total Assets HUF mil ...                         10,113,500 10,381,000 10,971,100 10,652,100 11,209,000    
Shareholders' Equity HUF mil ...                         1,514,550 1,509,330 1,264,170 1,233,660 1,420,650    
Interbank Borrowing HUF mil ...                         534,324 784,212 708,273 533,310 543,774    
Customer Deposits HUF mil ...                         6,550,710 6,866,610 7,673,480 7,984,580 8,540,580    
Issued Debt Securities HUF mil ...                         934,618 712,380 549,052 474,160 224,358    
ratios                                        
ROE % ...                         8.30 4.25 -7.35 5.09 15.2    
ROA % ...                         1.20 0.626 -0.955 0.588 1.85    
Costs (As % Of Assets) % ...                         4.51 5.14 4.76 4.31 4.17    
Costs (As % Of Income) % ...                         55.1 60.2 63.4 55.1 58.0    
Capital Adequacy Ratio %                           19.7 19.9 17.5 16.2 16.0    
Net Interest Margin % ...                         6.35 6.38 5.96 5.09 4.75    
Interest Income (As % Of Revenues) % ...                         77.7 74.8 79.3 65.2 66.1    
Fee Income (As % Of Revenues) % ...                         18.6 23.1 26.9 25.3 28.4    
Staff Cost (As % Of Total Cost) % ...                         41.3 38.8 40.6 40.3 42.0    
Equity (As % Of Assets) % ...                         15.0 14.5 11.5 11.6 12.7    
Loans (As % Of Deposits) % ...                         116 109 91.1 80.4 78.2    
Loans (As % Assets) % ...                         75.3 72.1 63.7 60.3 59.6    
NPLs (As % Of Loans) %                           19.1 16.0 15.1 17.0 14.7    
Provisions (As % Of NPLs) %                           80.0 105 108 93.4 96.8    
valuation                                        
Market Capitalisation (End Of Period) USD mil                           5,006 5,195 3,896 5,545 7,532    
Number Of Shares (Average) mil                           266 267 267 265 263    
Share Price (End Of Period) HUF                           4,150 4,199 3,811 6,000 8,400    
Earnings Per Share (EPS) HUF ...                         457 241 -382 240 768    
Book Value Per Share HUF ...                         5,687 5,650 4,729 4,701 5,376    
Dividend Per Share HUF ...                         128 126 152 153 202    
Price/Earnings (P/E) ...                         9.08 17.4 ... 25.0 10.9    
Price/Book Value (P/BV) ...                         0.730 0.743 0.806 1.28 1.56    
Dividend Yield % ...                         3.08 3.00 3.99 2.55 2.40    
Earnings Per Share Growth % ... ...                       47.3 -47.3 -259 -163 220    
Book Value Per Share Growth % ... ...                       6.84 -0.658 -16.3 -0.590 14.4    
income statement Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                        
Interest Income HUF mil ...                         1,243,950 1,089,370 909,231 802,428 689,691    
Interest Cost HUF mil ...                         598,484 435,641 273,133 251,998 169,963    
Net Interest Income HUF mil ...                         645,466 653,728 636,099 550,430 519,729    
Net Fee Income HUF mil ...                         154,338 201,758 215,656 213,872 222,991    
Other Income HUF mil ...                         30,855 18,906 -49,874 79,922 43,247    
Total Revenues HUF mil ...                         830,659 874,392 801,880 844,223 785,967    
Staff Cost HUF mil ...                         188,953 204,277 206,336 187,806 191,443    
Depreciation HUF mil ...                         47,420 78,017 65,947 45,463 44,428    
Other Cost HUF mil ...                         221,633 244,477 236,411 232,248 220,228    
Operating Cost HUF mil ...                         458,005 526,771 508,693 465,517 456,099    
Operating Profit HUF mil ...                         372,653 347,621 293,187 378,707 329,868    
Provisions HUF mil ...                         226,980 262,569 446,830 318,683 93,472    
Extra and Other Cost HUF mil ...                         < -0.001 0 0 0 0    
Pre-Tax Profit HUF mil ...                         145,673 85,052 -153,643 60,024 236,396    
Tax HUF mil ...                         23,088 20,944 -51,385 -3,148 33,944    
Minorities HUF mil ...                         896 -91.4 -273 -412 242    
Net Profit HUF mil ...                         121,690 64,199 -101,985 63,583 202,210    
Dividends HUF mil ...                         34,080 33,592 40,594 40,473 53,200    
growth rates                                        
Net Interest Income Growth % ... ...                       2.32 1.28 -2.70 -13.5 -5.58    
Net Fee Income Growth % ... ...                       5.33 30.7 6.89 -0.827 4.26    
Total Revenue Growth % ... ...                       -4.51 5.26 -8.29 5.28 -6.90    
Operating Cost Growth % ... ...                       6.47 15.0 -3.43 -8.49 -2.02    
Operating Profit Growth % ... ...                       -15.2 -6.72 -15.7 29.2 -12.9    
Pre-Tax Profit Growth % ... ...                       18.4 -41.6 -281 -139 294    
Net Profit Growth % ... ...                       46.4 -47.2 -259 -162 218    
market share                                        
Market Share in Revenues % ... ... ... ... ... ... ... ...           44.9 38.4 35.6 43.0 31.4   ...
Market Share in Net Profit % ... ... ... ... ... ... ... ...         ... ... 368 ... ... 27.6   ...
Market Share in Employees % ... ... ... ... ... ... ... ...           19.5 19.9 19.5 19.9 19.8   ...
Market Share in Branches % ... ... ... ... ... ... ...             11.4 11.8 12.2 13.3 13.4   ...
balance sheet Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                        
Cash HUF mil ...                         602,521 539,125 2,307,630 1,878,960 1,625,360    
Interbank Loans HUF mil ...                         356,866 273,479 281,006 300,569 363,530    
Customer Loans HUF mil ...                         7,618,370 7,480,840 6,993,330 6,423,590 6,680,500    
Retail Loans HUF mil ...                         5,086,230 5,231,710 4,725,320 4,259,320 4,398,240    
Mortgage Loans HUF mil ...                         2,797,090 2,623,100 2,590,330 2,333,340 2,357,610    
Consumer Loans HUF mil ...                         2,289,140 2,368,510 2,134,990 1,925,980 2,040,630    
Corporate Loans HUF mil ...                         2,168,130 2,177,150 1,976,250 1,897,870 2,017,730    
Debt Securities HUF mil ...                         2,063,350 2,632,910 1,837,800 2,414,520 2,831,100    
Fixed Assets HUF mil ...                         489,142 455,244 365,161 349,469 355,516    
Total Assets HUF mil ...                         10,113,500 10,381,000 10,971,100 10,652,100 11,209,000    
Shareholders' Equity HUF mil ...                         1,514,550 1,509,330 1,264,170 1,233,660 1,420,650    
Of Which Minority Interest HUF mil ...                         5,783 4,767 3,349 2,651 3,292    
Liabilities HUF mil ...                         8,598,910 8,871,720 9,706,890 9,418,400 9,788,390    
Interbank Borrowing HUF mil ...                         534,324 784,212 708,273 533,310 543,774    
Customer Deposits HUF mil ...                         6,550,710 6,866,610 7,673,480 7,984,580 8,540,580    
Retail Deposits HUF mil ...                         4,755,210 4,773,980 5,220,780 5,663,950 6,139,340    
Corporate Deposits HUF mil ...                         1,754,490 2,054,220 2,424,160 2,301,090 2,385,600    
Sight Deposits HUF mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 6,563,610 7,384,580 7,686,520 ... ... ...
Term Deposits HUF mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 264,590 260,357 278,522 ... ... ...
Issued Debt Securities HUF mil ...                         934,618 712,380 549,052 474,160 224,358    
Other Liabilities HUF mil ...                         579,263 421,353 592,088 426,354 479,675    
asset quality                                        
Non-Performing Loans HUF mil                           1,442,650 1,181,960 1,044,860 1,085,690 975,952    
Gross Loans HUF mil                           7,544,020 7,408,860 6,931,890 6,367,790 6,633,860    
Total Provisions HUF mil                           1,154,180 1,235,660 1,129,130 1,013,620 944,272    
growth rates                                        
Customer Loan Growth % ... ...                       8.11 -1.81 -6.52 -8.15 4.00    
Retail Loan Growth % ... ...                       -3.38 2.86 -9.68 -9.86 3.26    
Mortgage Loan Growth % ... ...                       -10.6 -6.22 -1.25 -9.92 1.04    
Consumer Loan Growth % ... ...                       7.23 3.47 -9.86 -9.79 5.95    
Corporate Loan Growth % ... ...                       -10.3 0.416 -9.23 -3.97 6.32    
Total Asset Growth % ... ...                       -0.853 2.65 5.68 -2.91 5.23    
Shareholders' Equity Growth % ... ...                       6.79 -0.345 -16.2 -2.41 15.2    
Customer Deposit Growth % ... ...                       2.37 4.82 11.8 4.05 6.96    
Retail Deposit Growth % ... ...                       -0.938 0.395 9.36 8.49 8.39    
Corporate Deposit Growth % ... ...                       12.2 17.1 18.0 -5.08 3.67    
market share                                        
Market Share in Customer Loans % ... ... ... ... ... ... ...             17.5 20.4 18.4 18.0 19.8   ...
Market Share in Corporate Loans % ... ... ... ... ... ... ... ...           17.7 17.8 13.9 14.5 15.6   ...
Market Share in Retail Loans % ... ... ... ... ... ... ... ...           18.8 20.1 20.6 22.4 21.9   ...
Market Share in Consumer Loans % ... ... ... ... ... ... ... ...           33.5 33.5 33.3 32.1 34.4   ...
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ...           45.9 44.3 42.8 38.7 43.6   ...
Market Share in Total Assets % ... ... ... ... ... ... ...             18.1 18.3 19.5 18.6 19.1   ...
Market Share in Customer Deposits % ... ... ... ... ... ... ...             24.8 26.7 27.8 25.1 25.8   ...
Market Share in Retail Deposits % ... ... ... ... ... ... ... ...           26.4 27.9 30.0 32.6 35.9   ...
Market Share in Corporate Deposits % ... ... ... ... ... ... ... ...           31.2 31.8 38.1 30.8 27.4   ...
ratios Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                        
ROE % ...                         8.30 4.25 -7.35 5.09 15.2    
ROA % ...                         1.20 0.626 -0.955 0.588 1.85    
Costs (As % Of Assets) % ...                         4.51 5.14 4.76 4.31 4.17    
Costs (As % Of Income) % ...                         55.1 60.2 63.4 55.1 58.0    
Capital Adequacy Ratio %                           19.7 19.9 17.5 16.2 16.0    
Tier 1 Ratio % ... ... ... ... ... ... ... ...           16.0 17.5 14.1 13.3 13.5    
Net Interest Margin % ...                         6.35 6.38 5.96 5.09 4.75    
Interest Spread % ... ...                       5.36 5.64 5.58 4.79 4.54    
Asset Yield % ...                         12.2 10.6 8.52 7.42 6.31    
Cost Of Liabilities % ... ...                       6.89 4.99 2.94 2.64 1.77    
Payout Ratio % ...                         28.0 52.3 -39.8 63.7 26.3    
Interest Income (As % Of Revenues) % ...                         77.7 74.8 79.3 65.2 66.1    
Fee Income (As % Of Revenues) % ...                         18.6 23.1 26.9 25.3 28.4    
Other Income (As % Of Revenues) % ...                         3.71 2.16 -6.22 9.47 5.50    
Cost Per Employee USD per month ...                         1,921 2,030 2,042 1,801 1,700    
Cost Per Employee (Local Currency) HUF per month ...                         432,211 454,106 486,964 493,499 493,386    
Staff Cost (As % Of Total Cost) % ...                         41.3 38.8 40.6 40.3 42.0    
Equity (As % Of Assets) % ...                         15.0 14.5 11.5 11.6 12.7    
Loans (As % Of Deposits) % ...                         116 109 91.1 80.4 78.2    
Loans (As % Assets) % ...                         75.3 72.1 63.7 60.3 59.6    
NPLs (As % Of Loans) %                           19.1 16.0 15.1 17.0 14.7    
Provisions (As % Of NPLs) %                           80.0 105 108 93.4 96.8    
Provisions (As % Of Loans) % ...                         15.1 16.5 16.1 15.8 14.1    
Cost of Provisions (As % Of Loans) % ...                         3.10 3.48 6.17 4.75 1.43    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                        
Branches                           1,401 1,434 1,421 1,340 1,302    
Employees                           36,431 37,487 35,310 31,713 32,335    
ATMs                           3,940 3,939 3,924 3,857 3,927    
Revenues From Abroad HUF mil ... ... ... ... ... ... ... ...           426,176 449,347 419,716 360,519 349,560    
Profit From Abroad HUF mil ... ... ... ... ... ... ... ...           79,964 36,054 -19,236 -3,192 86,170    
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ...           51.3 51.4 52.3 42.7 44.5    
Profit From Abroad (As % Of Total) % ... ... ... ... ... ... ... ...           54.9 42.4 12.5 -5.32 36.5    
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 95.6 96.2 96.3 ... ... ...
Risk-Weighted Assets HUF mil ... ... ... ... ... ... ... ... ... ...       7,496,890 7,313,280 6,859,440 6,576,260 6,730,470    
Assets from Hungary HUF mil ... ... ... ... ... ... ...             6,229,360 6,454,940 7,127,610 6,707,420 7,148,670   ...
Assets from Bulgaria HUF mil ... ... ... ... ... ... ...             1,292,030 1,343,600 1,603,810 1,778,330 1,852,900   ...
Assets from Ukraine HUF mil ... ... ... ... ... ... ...             653,603 617,730 422,286 292,882 307,117   ...
Assets from Russia HUF mil ... ... ... ... ... ... ...             1,027,760 940,320 750,747 507,082 622,666   ...
Assets from Romania HUF mil ... ... ... ... ... ... ...             461,458 449,789 476,352 646,042 588,188   ...
Assets from Croatia HUF mil ... ... ... ... ... ... ...             519,570 538,112 654,793 649,870 649,063   ...
Assets from Slovakia HUF mil ... ... ... ... ... ... ...             374,224 425,219 464,296 450,819 453,720   ...
Assets from Serbia HUF mil ... ... ... ... ... ... ...             122,994 86,136 109,509 119,224 123,279   ...
Assets from Montenegro HUF mil ... ... ... ... ... ... ...             208,633 196,209 195,770 199,800 197,562   ...
Revenues from Hungary HUF mil ... ... ... ... ... ... ... ...           404,483 384,587 375,668 367,234 354,698   ...
Revenues from Bulgaria HUF mil ... ... ... ... ... ... ... ...           95,732 92,966 102,238 114,440 112,503   ...
Revenues from Ukraine HUF mil ... ... ... ... ... ... ... ...           64,510 72,811 52,078 41,087 37,304   ...
Revenues from Russia HUF mil ... ... ... ... ... ... ... ...           193,273 207,493 179,392 113,052 106,154   ...
Revenues from Romania HUF mil ... ... ... ... ... ... ... ...           19,811 20,375 23,409 27,662 26,644   ...
Revenues from Croatia HUF mil ... ... ... ... ... ... ... ...           22,550 22,697 25,427 28,021 31,442   ...
Revenues from Slovakia HUF mil ... ... ... ... ... ... ... ...           13,932 14,908 17,098 17,672 17,893   ...
Revenues from Serbia HUF mil ... ... ... ... ... ... ... ...           6,322 7,580 8,556 8,359 7,720   ...
Revenues from Montenegro HUF mil ... ... ... ... ... ... ... ...           10,047 10,516 11,518 10,468 10,022   ...
Net Profit from Hungary HUF mil ... ... ... ... ... ... ... ...           94,587 114,879 137,418 123,359 122,194   ...
Net Profit from Bulgaria HUF mil ... ... ... ... ... ... ... ...           24,214 30,223 39,170 52,537 47,385   ...
Net Profit from Ukraine HUF mil ... ... ... ... ... ... ... ...           528 6,716 -43,166 -40,312 10,202   ...
Net Profit from Russia HUF mil ... ... ... ... ... ... ... ...           47,158 2,356 -14,541 -15,101 20,535   ...
Net Profit from Romania HUF mil ... ... ... ... ... ... ... ...           -5,530 -4,143 765 1,480 1,655   ...
Net Profit from Croatia HUF mil ... ... ... ... ... ... ... ...           3,714 2,210 104 2,968 3,783   ...
Net Profit from Slovakia HUF mil ... ... ... ... ... ... ... ...           -1,161 1,153 32.0 924 -2,223   ...
Net Profit from Serbia HUF mil ... ... ... ... ... ... ... ...           -4,934 -13,246 50.0 -385 39.3   ...
Net Profit from Montenegro HUF mil ... ... ... ... ... ... ... ...           -3,872 801 391 909 -1,849   ...
Loans from Hungary HUF mil ... ... ... ... ... ... ...             2,807,560 3,134,510 2,753,420 2,394,360 2,610,280   ...
Loans from Bulgaria HUF mil ... ... ... ... ... ... ...             965,323 1,207,110 1,158,520 1,158,890 1,151,210   ...
Loans from Ukraine HUF mil ... ... ... ... ... ... ...             487,346 657,007 568,214 421,330 381,662   ...
Loans from Russia HUF mil ... ... ... ... ... ... ...             713,933 586,202 568,709 393,914 490,086   ...
Loans from Romania HUF mil ... ... ... ... ... ... ...             347,025 435,558 428,995 546,148 524,576   ...
Loans from Croatia HUF mil ... ... ... ... ... ... ...             327,670 402,380 467,749 470,862 471,346   ...
Loans from Slovakia HUF mil ... ... ... ... ... ... ...             270,949 360,216 369,624 382,500 388,926   ...
Loans from Serbia HUF mil ... ... ... ... ... ... ...             63,622 91,648 99,011 108,327 108,704   ...
Loans from Montenegro HUF mil ... ... ... ... ... ... ...             100,992 174,062 158,297 149,775 143,331   ...
Deposits from Hungary HUF mil ... ... ... ... ... ... ...             3,632,700 3,967,790 4,459,300 4,494,950 4,905,680   ...
Deposits from Bulgaria HUF mil ... ... ... ... ... ... ...             979,054 1,123,380 1,285,040 1,489,540 1,547,670   ...
Deposits from Ukraine HUF mil ... ... ... ... ... ... ...             243,132 240,843 228,803 211,346 228,568   ...
Deposits from Russia HUF mil ... ... ... ... ... ... ...             590,958 554,645 402,729 307,646 345,241   ...
Deposits from Romania HUF mil ... ... ... ... ... ... ...             155,348 200,514 222,126 334,346 336,991   ...
Deposits from Croatia HUF mil ... ... ... ... ... ... ...             407,754 452,534 518,313 509,317 515,450   ...
Deposits from Slovakia HUF mil ... ... ... ... ... ... ...             299,014 352,881 375,687 385,082 366,976   ...
Deposits from Serbia HUF mil ... ... ... ... ... ... ...             38,268 45,531 66,934 73,385 78,584   ...
Deposits from Montenegro HUF mil ... ... ... ... ... ... ... ...           157,924 155,441 142,593 149,775 143,331   ...
ROE in Hungary % ... ... ... ... ... ... ... ...           8.07 9.40 11.3 10.3 9.83   ...
ROE in Bulgaria % ... ... ... ... ... ... ... ...           11.6 14.1 16.7 21.0 19.8   ...
ROE in Ukraine % ... ... ... ... ... ... ... ...           0.454 6.00 -73.4 ... ...   ...
ROE in Russia % ... ... ... ... ... ... ... ...           28.0 1.30 -10.0 -15.0 20.2   ...
ROE in Romania % ... ... ... ... ... ... ... ...           -18.2 -13.4 2.39 3.63 3.83   ...
ROE in Croatia % ... ... ... ... ... ... ... ...           6.28 3.60 0.155 4.22 5.20   ...
ROE in Slovakia % ... ... ... ... ... ... ... ...           -4.04 4.30 0.114 3.07 -7.38   ...
ROE in Serbia % ... ... ... ... ... ... ... ...           -18.7 -53.8 0.186 -1.29 0.135   ...
ROE in Montenegro % ... ... ... ... ... ... ... ...           -23.3 4.20 1.78 3.96 -7.86   ...
NPL Ratio in Hungary % ... ... ... ... ... ... ... ... ...         16.1 17.4 17.5 12.1 9.80   ...
NPL Ratio in Bulgaria % ... ... ... ... ... ... ... ... ...         18.4 20.1 15.0 14.9 11.5   ...
NPL Ratio in Ukraine % ... ... ... ... ... ... ... ... ...         36.4 34.6 46.1 48.6 41.9   ...
NPL Ratio in Russia % ... ... ... ... ... ... ... ... ...         16.6 18.1 14.7 19.4 20.2   ...
NPL Ratio in Romania % ... ... ... ... ... ... ... ... ...         15.9 17.8 17.8 16.7 17.4   ...
NPL Ratio in Croatia % ... ... ... ... ... ... ... ... ...         11.1 12.5 13.3 13.1 12.1   ...
NPL Ratio in Slovakia % ... ... ... ... ... ... ... ... ...         11.9 11.5 10.3 9.70 11.2   ...
NPL Ratio in Serbia % ... ... ... ... ... ... ... ... ...         52.6 48.9 43.8 39.3 32.7   ...
NPL Ratio in Montenegro % ... ... ... ... ... ... ... ... ...         40.8 37.4 39.7 42.7 42.4   ...
Branches in Hungary ... ... ... ... ... ... ...             380 382 380 375 367   ...
Branches in Bulgaria ... ... ... ... ... ... ...             381 378 385 383 372   ...
Branches in Ukraine ... ... ... ... ... ... ...             150 140 116 85.0 84.0   ...
Branches in Russia ... ... ... ... ... ... ...             146 200 198 134 134   ...
Branches in Romania ... ... ... ... ... ... ...             89.0 84.0 84.0 108 100   ...
Branches in Croatia ... ... ... ... ... ... ...             103 102 117 110 103   ...
Branches in Slovakia ... ... ... ... ... ... ...             70.0 68.0 61.0 60.0 61.0   ...
Branches in Serbia ... ... ... ... ... ... ...             51.0 51.0 51.0 56.0 52.0   ...
Branches in Montenegro ... ... ... ... ... ... ...             31.0 29.0 29.0 29.0 29.0   ...
Mortgage Loans from Hungary HUF mil ... ... ... ... ... ... ... ...           1,620,980 1,479,180 1,428,300 1,163,730 1,274,870   ...
Mortgage Loans from Bulgaria HUF mil ... ... ... ... ... ... ... ...           383,736 381,175 377,168 365,202 338,030   ...
Mortgage Loans from Ukraine HUF mil ... ... ... ... ... ... ... ...           176,661 148,521 156,892 127,297 97,845   ...
Mortgage Loans from Russia HUF mil ... ... ... ... ... ... ... ...           45,127 33,955 25,177 22,858 19,750   ...
Mortgage Loans from Romania HUF mil ... ... ... ... ... ... ... ...           233,459 224,806 227,119 288,842 260,102   ...
Mortgage Loans from Croatia HUF mil ... ... ... ... ... ... ... ...           122,789 124,285 140,688 141,070 148,629   ...
Mortgage Loans from Slovakia HUF mil ... ... ... ... ... ... ... ...           137,521 160,454 165,688 159,271 155,255   ...
Mortgage Loans from Serbia HUF mil ... ... ... ... ... ... ... ...           11,513 11,704 12,503 12,859 13,520   ...
Mortgage Loans from Montenegro HUF mil ... ... ... ... ... ... ... ...           33,361 31,825 29,872 29,037 28,912   ...
Retail Loans from Hungary HUF mil ... ... ... ... ... ... ... ...           2,180,190 2,017,470 1,937,440 1,624,500 1,748,280   ...
Retail Loans from Bulgaria HUF mil ... ... ... ... ... ... ... ...           891,331 899,346 872,084 858,420 824,614   ...
Retail Loans from Ukraine HUF mil ... ... ... ... ... ... ... ...           309,441 316,443 300,456 218,465 164,404   ...
Retail Loans from Russia HUF mil ... ... ... ... ... ... ... ...           806,805 792,928 532,543 363,054 450,353   ...
Retail Loans from Romania HUF mil ... ... ... ... ... ... ... ...           306,019 314,539 320,845 405,938 382,021   ...
Retail Loans from Croatia HUF mil ... ... ... ... ... ... ... ...           225,851 232,845 298,265 300,541 307,791   ...
Retail Loans from Slovakia HUF mil ... ... ... ... ... ... ... ...           222,326 265,686 298,109 315,316 327,544   ...
Retail Loans from Serbia HUF mil ... ... ... ... ... ... ... ...           38,397 43,011 44,549 46,170 48,180   ...
Retail Loans from Montenegro HUF mil ... ... ... ... ... ... ... ...           65,278 69,464 70,955 73,065 71,683   ...

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OTP's net interest margin fell 1.01% yoy to 4.19% in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group's net interest margin amounted to 4.19% in the second quarter of 2019, down from 4.26% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 6.57% in 3Q2013 and an all time low of 4.19%...

OTP's employees rose 4.86% yoy to 36,785 in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group employed 36,785 persons in 2019-06-30, down 0.874% when compared to the previous year. Historically, the bank's workforce hit an all time high of 37,892 persons in 2013-12-31 and an all time low of 28,535 in 2007-03-31. Average cost reached USD 2,144 per...

OTP's share price (end of period) rose 18.9% yoy to HUF 12,080 in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group stock traded at HUF 12,080 per share at the end of second quarter of 2019 implying a market capitalization of USD 11,131 mil. Over the last five years, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of ...

OTP's market capitalisation (end of period) fell 4.28% to USD 11,131 mil in 2Q2019

By Helgi Analytics - October 23, 2019

OTP Group stock traded at HKD 5.28 per share at the end of second quarter of 2019 implying a market capitalization of USD 49,570 mil. Over the last five years, the stock has appreciated by 23.4 implying an annual average growth of 4.29% In absolute terms,...

OTP's branches rose 5.29% yoy to 1,552 in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group employed 36,785 persons in 2019-06-30, down 0.874% compared to the previous year. Historically, the bank's workforce hit an all time high of 37,892 persons in 2013-12-31 and an all time low of 28,535 in 2007-03-31. The bank operated a network of ...

OTP's price/earnings (P/E) rose 5.13% yoy to 9.26 in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group stock traded at HUF 12,080 per share at the end second quarter of 2019 implying a market capitalization of USD 11,131 mil. Since the end of 2Q2014, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the ...

OTP's capital adequacy ratio rose 5.14% yoy to 17.4% in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group's capital adequacy ratio reached 17.4% at the end of second quarter of 2019, up from 16.5% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 20.2% in 1Q2014 and an all time low of 12.5% in 2Q2008. ...

OTP's net interest income rose 16.3% yoy to HUF 170,695 mil in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group generated total banking revenues of HUF 275,367 mil in the second quarter of 2019, up 14.7% when compared to the same period of last year and 8.22% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, ...

OTP's costs (as % of assets) fell 1.28% yoy to 3.86% in 2Q2019

By Helgi Analytics - August 11, 2019

OTP Group's cost to income ratio reached 57.0% in the second quarter of 2019, down from 61.9% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 676% of income in 2Q2014 and an all time low of -15.8% in 3Q2008. ...

OTP's Cost of Risk fell 18.7% yoy to 0.118% in 2Q2019

By Helgi Analytics - August 23, 2019

OTP Group's Cost of Risk (loan loss provisions as % of total assets) amounted to 0.118% in the second quarter of 2019, down from 0.342% when compared to the previous quarter. Historically, the bank’s cost of risk reached an all time high of 5.64% in 1Q2015 a...

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OTP Bank Nyrt is a Hungary-based commercial bank. The bank remains the largest universal bank in Hungary with a roughly a 30% market share in retail banking. Following years of aggressive expansion, however, the OTP Group currently operates in 8 countries of the CEE region, namely in Slovakia, Bulgaria, Serbia, Romania, Croatia, Ukraine, Montenegro and Russia. In 2012, OTP Group had more than 36,000 employees and served approximately 13 mil clients through over 1,400 branches. The bank went public in 1995, and the share of the state in the bank capital decreased to one preferential golden share, which also eliminated shortly thereafter. OTP has a high free float accounting for two thirds of its shares. Among the main minority shareholders are one of the Forbes billionaire Megdet Rahimkulov, Hungarian MOL and French Groupama

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Finance

OTP Group has been growing its revenues and asset by 1.06% and 4.53% a year on average in the last 10 years. Its loans and deposits have grown by 1.75% and 7.94% a year during that time and loans to deposits ratio reached 71.5% at the end of 2018. The company achieved an average return on equity of 9.13% in the last decade with net profit growing 2.84% a year on average. In terms of operating efficiency, its cost to income ratio reached 59.4% in 2018, compared to 55.5% average in the last decade.

Equity represented 12.5% of total assets or 22.6% of loans at the end of 2018. OTP Group's non-performing loans were 6.32% of total loans while provisions covered some 118% of NPLs at the end of 2018.

Valuation

OTP Group stock traded at HUF 11,720 per share at the end of 2018 resulting in a market capitalization of USD 10,927 mil. Over the previous five years, stock price rose by 179% or 22.8% a year on average. That’s compared to an average ROE of 9.94% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 9.65x and price to book value (PBV) of 1.68x in 2018.