OTP Banka Srbija Q1 after-tax profit rises 29% y/y

The net interest income of OTP Banka Srbija grew 15% on the year to 27.7 billion forints in January-March, while its net fee and commission income climbed 12% to 4.7 billion forints in the period under review, OTP said in its financial report published last week.

Operating expenses rose 8% on the year to 13 billion forints in the first quarter of the current year, the statement read.

OTP Banka Srbija’s gross loans to customers increased by 7% on the year to 2.045 trillion forints at end-March, while deposits from customers rose by an annual 29% to 1.954 trillion forints in the reviewed period.

Total assets increased 14% on the year to 2.997 trillion forints at the end of March.

Among twenty active banks in Serbia at the end of 2023, OTP Banka Srbija was the second largest lender in terms of assets, after Italy's Intesa Sanpaolo unit - Banca Intesa Beograd (BIB), latest available central bank figures showed on Tuesday.

(1 euro = 386.515 Hungarian forints)