"The moderating earning dynamism in the third quarter of 2008 is partially due to the Hungarian forint strengthening [...] and unfavourable market conditions," the Hungarian parent bank OTP said in a statement on its website. In the third quarter alone, the after-tax profit of OTP Banka Hrvatska was 1.351 billion forints, up 4.5% quarter-on-quarter and 14.1% year-on-year.
Following are the details for OTP Banka Hrvatska for the nine months of 2008 (in millions of Hungarian forints):
Jan-Sept’08 | Jan-Sept’07 | |
After-tax profit |
3,711 | 2,823 |
Net interest income | 10,005 | 8,629 |
Net fees and | 2,581 | 2,200 |
Other net non-interest income | 1,208 | 649 |
Operating expenses | -8,850 | -7,713 |
Gross customer loans | 280,728 | 225,061 |
Deposits from customers | 315,377 | 285,230 |
Total assets |
449,566 | 397,155 |
ROA (pct) | 1.1% | 1.0% |
ROE (pct) | 10.7% | 10.8% |
OTP Banka Hrvatska held a 3.6% market share by assets, 4.1% share by deposits and 3.6% share by loans in the country at the end of September. The Hungarian banking group is also present in Bulgaria and Romania and in Croatia's neighbours Serbia and Montenegro.
(1 euro = 268.6235 Hungarian forints)