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Hungary’s OTP Serbian Unit Turns to H1 After-tax Loss – Table

Aug 17, 2009, 6:10:16 PMArticle by Vera Ovanin
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BELGRADE (Serbia), August 17 (SeeNews) – Hungarian banking group OTP said that its Serbian unit, OTP Banka Srbija (OBSr), turned to a first-half after-tax loss of 124 million Hungarian forints from a profit of some 2.3 billion forints a year earlier.

Hungary’s OTP Serbian Unit Turns to H1 After-tax Loss – Table

Following are data from OBSr’s balance sheet and income statement (in millions of Hungarian forints):

H1'09 H1'08 y/y change
AFTER-TAX PROFIT -124 2,334
NET INTEREST INCOME 3,276 3,225 2.0%
GROSS LOANS 91,982 94,721 -3.0%
DEPOSITS 33,782 33,906  0.0%
TOTAL ASSETS 133,769 142,647 -6.0%
ROA (pct) -0.2% 0.8% -1.0%
ROE (pct) -0.7% 2.5% -3.2%

"The main reason behind the lower total income is the drop of net F&C income due to sluggish customer activity, and the weak FX income," OTP said in a statement on Friday.

OBSr ranked the 14th biggest in terms of assets out of the 35 banks that were active in Serbia at the end December. It was formed by the merger of the three Serbian banks majority owned by OTP - Kulska Banka, Niska Banka and Zepter Banka - in May 2007.

(1 euro= 273.8007 Hungarian forints)

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