OTP’s Profit of Half a Billion Kuna, Year Marked by the Acquisition of Splitska Banka

In 2017, OTP Group achieved an accounting net profit of half a billion kuna, the bank announced on Monday, noting that the year was marked by the acquisition of Splitska Banka and that intensive work is underway on the integration process, which will be completed by October 1 of this year.

– The past year was marked by the acquisition of Splitska Banka in May, since which intensive work has been ongoing on the integration process of the banks, which will be completed by October 1 of this year, the bank emphasizes, adding that the merger will create the fourth largest bank in Croatia.

>>>HPB: Excellent last year’s second half compensated for losses due to exposure to Agrokor

Along with the intensive preparation for integration, OTP Group achieved excellent business results in 2017 – with a balance sheet of 44 billion kuna, OTP Group holds over 11 percent of the market share measured by the size of assets.

The total gross loan portfolio of both banks amounts to 29 billion kuna, and the deposit base is 33 billion kuna, which also represents 11 percent of the market share.

>>>HNB: Due to risks related to Agrokor, bank profitability fell last year

OTP states in the announcement that its share in the segment of loans to households is above average at 13 percent of the market, within which the largest market share is held by auto loans with over 50 percent, where OTP Group is currently the strongest market player.

In the segment of non-purpose loans, OTP Group holds 15 percent of the market.

>>>Sberbank does not see potential problems related to Agrokor in its balance sheet

The announcement also states that the Hungarian OTP Group achieved a consolidated accounting profit of 281.3 billion forints in 2017, compared to the base period when 202.5 billion forints were recorded.