ZAGREB (Croatia), August 10 (SeeNews) – Hungarian financial services group OTP said on Friday the first-half net profit of its Croatian unit, OTP Banka Hrvatska, soared 140% on the year to 12.2 billion forints ($43.4 million/37.8 million euro), following the acquisition of Croatia's Splitska Banka.
The net interest income of OTP Banka Hrvatska rose 54% on the year in January-June to 26.9 billion forints, while its net fees and commissions income surged 74% to 7.8 billion forints, OTP said in an interim financial report.
In May 2017, OTP purchased a 100% stake in Croatia's Splitska Banka, a former member of Societe Generale Group, for 425 million euro.
OTP explained that the comparability of the financial performance on a yearly basis is limited, as first-half 2017 figures did not incorporate the full contribution from Splitska Banka, as the first time consolidation happened in May 2017.
OTP Banka Hrvatska's gross loans to customers increased 11% compared to the end-2017 figure, reaching 1,243.5 billion forints, while deposits added 6% to 1,482.8 billion forints. The lender's total assets expanded to 1,930.95 billion forints, up 6% compared to end December 2017.
In Southeast Europe, OTP is also present in Bulgaria, Romania, Serbia and Montenegro.
(1 euro=322.700 HUF)
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