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    OTP   HU0000061726

OTP BANK NYRT.

(OTP)
  Report
End-of-day quote. End-of-day quote Budapest Stock Exchange - 12/08
17550 HUF   -0.17%
12/06OTP BANK : Extraordinary Information
PU
12/06OTP BANK : is purchasing a bank in Albania again
PU
12/02OTP BANK : Extraordinary Information
PU
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Half year ended June 30, 2021, IFRS consolidated

10/28/2021 | 03:41am EST

OTP BANK PLC.

CONSOLIDATED FINANCIAL STATEMENTS

IN ACCORDANCE WITH

INTERNATIONAL FINANCIAL REPORTING

STANDARDS AS ADOPTED BY THE EUROPEAN UNION

FOR THE SIX-MONTH PERIOD ENDED

30 JUNE 2021

Table of Contents

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED) AS

AT 30 JUNE 2021.................................................................................................................................................

4

CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE

SIX-MONTHPERIOD ENDED 30 JUNE 2021.......................................................................................................

5

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)

FOR THE SIX-MONTHPERIOD ENDED 30 JUNE 2021 .......................................................................................

6

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED) FOR

THE SIX-MONTHPERIOD ENDED 30 JUNE 2021...............................................................................................

7

CONSOLIDATED STATEMENT OF CASH-FLOWS (UNAUDITED) FOR THE

SIX-MONTHPERIOD ENDED 30 JUNE 2021.......................................................................................................

8

NOTE 1:

ORGANIZATION AND BASIS OF CONSOLIDATED FINANCIAL STATEMENTS...................................

10

1.1.

General information

10

1.2.

Basis of Accounting

10

NOTE 2:

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ...........................................................................

12

2.1.

Basis of Presentation

12

2.2.

Foreign currency translation

12

2.3.

Principles of consolidation

13

2.4.

Accounting for acquisitions

13

2.5.

Securities at amortized cost

14

2.6.

Financial assets at fair value through profit or loss

14

2.7.

Hedge accounting

16

2.8.

Offsetting

17

2.9.

Embedded derivatives

17

2.10. Securities at fair value through other comprehensive income

17

2.11. Loans, placements with other banks, repo receivables and loss allowance for loan and placements and

repo receivable losses

18

2.12. Modified assets

19

2.12. Purchased or originated credit impaired financial assets

19

2.14. Loss allowance

20

2.15. Sale and repurchase agreements, security lending

22

2.16. Associates and other investments

22

2.17. Property and equipment, Intangible assets

23

2.18. Inventories

23

2.19. Financial liabilities

24

2.20. Leases

24

2.21. Investment properties

25

2.22. Share capital

25

2.23. Treasury shares

25

2.24. Non-current assets held-for-sale and discontinued operations

26

2.25. Interest income and income similar to interest income and interest expense

26

2.26. Fees and Commissions

26

2.27. Dividend income

27

2.28. Income tax

27

2.29. Banking tax

27

2.30.

Off-balance sheet commitments and contingent liabilities

27

2.31.

Share-based payment

28

2.32.

Employee benefits

28

2.33.

Consolidated Statement of Cash-flows

28

2.34.

Segment reporting

28

2.35.

Comparative figures

28

NOTE 3:

SIGNIFICANT ACCOUNTING ESTIMATES AND DECISIONS IN THE APPLICATION OF

ACCOUNTING POLICIES ................................................................................................................................

32

3.1.

Loss allowances on financial instruments exposed to credit risk

32

3.2.

Valuation of instruments without direct quotations

32

3.3.

Provisions

32

3.4.

Impairment on goodwill

33

3.5.

Business model

33

NOTE 4:

IMPACT OF CORONA VIRUS ( COVID-19) ..................................................................................................

34

NOTE 5: CASH, AMOUNTS DUE FROM BANKS AND BALANCES WITH THE NATIONAL BANKS (in

HUF mn) .............................................................................................................................................................

39

NOTE 6:

PLACEMENTS WITH OTHER BANKS, NET OF LOSS ALLOWANCE FOR PLACEMENTS (in HUF

mn) ......................................................................................................................................................................

39

NOTE 7:

REPO RECEIVABLES (in HUF mn) .................................................................................................................

40

NOTE 8:

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS (in HUF mn) ...............................

41

NOTE 9:

SECURITIES AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (in HUF mn) ............

44

NOTE 10: SECURITIES AT AMORTIZED COST (in HUF mn) .......................................................................................

46

NOTE 11: LOANS AT AMORTIZED COST AND AT FAIR VALUE (in HUF mn) ........................................................

48

NOTE 12: A SSOCIATES AND OTHER INVESTMENTS (in HUF mn) ..........................................................................

50

NOTE 13: PROPERTY, EQUIPMENT AND INTANGIBLE ASSETS (in HUF mn).........................................................

51

NOTE 14: INVESTMENT PROPERTIES (in HUF mn)......................................................................................................

58

NOTE 15: POSITIVE FAIR VALUE OF DERIVATIVE FINANCIAL ASSETS DESIGNATED AS HEDGE

ACCOUNTING (in HUF mn) .............................................................................................................................

60

NOTE 16: OTHER ASSETS (in HUF mn)...........................................................................................................................

60

NOTE 17: AMOUNTS DUE TO BANKS, THE NATIONAL GOVERNMENTS, DEPOSITS FROM THE

NATIONAL BANKS AND OTHER BANKS (in HUF mn) ..............................................................................

61

NOTE 18: REPO LIABILITIES (in HUF mn) .....................................................................................................................

62

NOTE 19: FINANCIAL LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS (in

HUF mn) .............................................................................................................................................................

62

NOTE 20: DEPOSITS FROM CUSTOMERS (in HUF mn) ................................................................................................

63

NOTE 21: LIABILITIES FROM ISSUED SECURITIES (in HUF mn) ..............................................................................

64

NOTE 22: DERIVATIVE FINANCIAL LIABILITIES HELD FOR TRADING (in HUF mn) ..........................................

68

NOTE 23: NEGATIVE FAIR VALUE OF DERIVATIVE FINANCIAL LIABILITIES DESIGNATED AS HEDGE

ACCOUNTING (in HUF mn) .............................................................................................................................

68

NOTE 24: OTHER LIABILITIES (in HUF mn) ..................................................................................................................

68

NOTE 25: SUBORDINATED BONDS AND LOANS (in HUF mn) ..................................................................................

70

NOTE 26: SHARE CAPITAL (in HUF mn).........................................................................................................................

71

NOTE 27: RETAINED EARNINGS AND RESERVES (in HUF mn) ................................................................................

72

NOTE 28: TREASURY SHARES (in HUF mn) ..................................................................................................................

75

NOTE 29: NON-CONTROLLING INTEREST (in HUF mn).............................................................................................

75

NOTE 30: INTEREST INCOME, INCOME SIMILAR TO INTEREST INCOME AND EXPENSE (in HUF mn) ..........

76

NOTE 31: LOSS ALLOWANCES / IMPAIRMENT AND PROVISIONS (in HUF mn) ...................................................

77

NOTE 32: NET PROFIT FROM FEES AND COMMISSIONS (in HUF mn).....................................................................

78

NOTE 33: OTHER OPERATING INCOME AND EXPENSES AND OTHER ADMINISTRATIVE EXPENSES (in

HUF mn) .............................................................................................................................................................

80

NOTE 34: INCOME TAXES (in HUF mn) ..........................................................................................................................

82

NOTE 35: LEASE (in HUF mn) ..........................................................................................................................................

84

NOTE 36: FINANCIAL RISK MANAGEMENT (in HUF mn) .........................................................................................

87

36.1. Credit risk

87

36.2. Maturity analysis of assets, liabilities and liquidity risk

102

36.3. Net foreign currency position and foreign currency risk

107

36.4. Interest rate risk management

107

36.5. Market risk

112

36.6. Capital management

115

NOTE 37: RECLASSIFICATION AND TRANSFER OF FINANCIAL INSTRUMENTS (in HUF mn) ........................

117

NOTE 38: OFF-BALANCE SHEET ITEMS AND DERIVATIVE FINANCIAL INSTRUMENTS (in HUF mn)...........

118

NOTE 39: SHARE-BASED PAYMENTS AND EMPLOYEE BENEFITS (in HUF mn).................................................

119

NOTE 40: RELATED PARTY TRANSACTIONS (in HUF mn) ......................................................................................

125

NOTE 41: SIGNIFICANT SUBSIDIARIES AND ASSOCIATES (in HUF mn) ..............................................................

128

NOTE 42: TRUST ACTIVITIES (in HUF mn) ..................................................................................................................

130

NOTE 43: CONCENTRATION OF ASSETS AND LIABILITIES ...................................................................................

131

NOTE 44: EARNINGS PER SHARE (in HUF mn) ..........................................................................................................

131

NOTE 45: NET GAIN OR LOSS REALIZED ON FINANCIAL INSTRUMENTS (in HUF mn)....................................

133

NOTE 46: FAIR VALUE OF FINANCIAL INSTRUMENTS (in HUF mn) .....................................................................

135

NOTE 47: SEGMENT REPORTING BY BUSINESS AND GEOGRAPHICAL SEGMENTS (in HUF mn) ................

150

NOTE 48: DISCONTINUED OPERATIONS (in HUF mn) ..............................................................................................

154

NOTE 49: SIGNIFICANT EVENTS DURING THE SIX-MONTH PERIOD ENDED 30 JUNE 2021............................

155

NOTE 50: POST BALANCE SHEET EVENTS ................................................................................................................

155

OTP BANK PLC.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED) AS AT 30 JUNE 2021

(in HUF mn)

Note

30/06/2021

31/12/2020

30/06/2020

Cash, amounts due from banks and balances with the National Banks

5.

1,983,486

2,432,312

2,129,281

Placements with other banks, net of loss allowance for placements

6.

1,727,059

1,148,743

930,148

Repo receivables

7.

107,849

190,849

52,244

Financial assets at fair value through profit or loss

8.

234,797

234,007

275,426

Securities at fair value through other comprehensive income

9.

2,128,320

2,136,709

1,906,502

Securities at amortized cost

10.

3,232,248

2,624,920

2,369,970

Loans at amortized cost and

mandatorily at fair value through profit or loss

11.

12,958,928

12,477,447

11,639,228

Finance lease receivables

35.

1,107,012

1,051,140

1,023,345

Associates and other investments

12.

40,028

52,443

26,881

Property and equipment

13.

388,331

322,766

320,757

Intangible assets and goodwill

13.

230,446

239,004

242,170

Right-of-use assets

35.

42,697

46,283

47,987

Investment properties

14.

40,766

38,601

36,835

Derivative financial assets designated as hedge accounting

15.

13,034

6,820

12,389

Deferred tax assets

34.

21,605

22,317

29,869

Current income tax receivables

34.

35,218

38,936

36,938

Other assets

16.

253,078

266,474

243,743

Assets classified as held for sale / discontinued operations

48.

5,821

6,070

466,441

TOTAL ASSETS

24,550,723

23,335,841

21,790,154

Amounts due to banks, the National Governments,

deposits from the National Banks and other banks

17.

1,606,883

1,185,315

1,000,580

Repo liabilities

18.

275,942

117,991

122,091

Financial liabilities designated at fair value through profit or loss

19.

31,804

34,131

29,265

Deposits from customers

20.

18,258,676

17,890,863

16,231,927

Liabilities from issued securities

21.

497,045

464,213

401,829

Derivative financial liabilities held for trading

22.

84,389

104,823

159,339

Derivative financial liabilities designated as hedge accounting

23.

2,193

11,341

14,080

Leasing liabilities

35.

44,817

48,451

50,038

Deferred tax liabilities

34.

22,356

25,990

26,825

Current income tax payable

34.

42,144

27,684

50,304

Other liabilities

24.

714,905

607,737

683,298

Subordinated bonds and loans

25.

267,378

274,704

271,478

Liabilities directly associated with assets classified as held for sale /

discontinued operations

48.

5,268

5,486

368,837

TOTAL LIABILITIES

21,853,800

20,798,729

19,409,891

Share capital

26.

28,000

28,000

28,000

Retained earnings and reserves

27.

2,768,248

2,629,076

2,449,135

Treasury shares

28.

(104,055)

(124,080)

(101,305)

Non-controlling interest

29.

4,730

4,116

4,433

TOTAL SHAREHOLDERS' EQUITY

2,696,923

2,537,112

2,380,263

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

24,550,723

23,335,841

21,790,154

The accompanying notes to consolidated financial statements on pages 10 to 156 form an integral part of these Consolidated Financial

4

Statements prepared in accordance with International Financial Reporting Standards as adopted by EU.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

OTP Bank Nyrt. published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 07:40:07 UTC.


© Publicnow 2021
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Sales 2021 1 292 B 4 015 M 4 015 M
Net income 2021 458 B 1 423 M 1 423 M
Net Debt 2021 - - -
P/E ratio 2021 10,1x
Yield 2021 1,72%
Capitalization 4 895 B 15 147 M 15 214 M
Capi. / Sales 2021 3,79x
Capi. / Sales 2022 3,40x
Nbr of Employees 38 447
Free-Float 84,0%
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László Bencsik Chief Strategic & Financial Officer
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