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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%
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OTP Bank : Extraordinary General Meeting Translation of the Hungarian presentation

10/15/2021 | 09:42am EST

EXTRAORDINARY GENERAL MEETING

Translation of the Hungarian presentation

15 October 2021

Agenda of the Extraordinary General Meeting

  1. Authorization for the Board of Directors to sell the (own) shares owned by OTP Bank Plc. to the Special Employee Co-Ownership Program to be created by the employees of the OTP Bank Plc.
  2. Decision on providing support to the Special Employee Co-Ownership Program to be created by the employees of the OTP Bank Plc.

Extraordinary General Meeting - 15 October 2021

2

Item 1 on the Agenda

Authorization for the Board of Directors to sell the (own) shares owned by OTP Bank Plc. to the Special Employee Co-Ownership Program to be created by the employees of the OTP Bank Plc.

Presented by: Dr. Sándor Csányi

Chairman of the Board of Directors & Chief Executive Officer

Contents

Overview of OTP Group's performance

Authorization for the Board of Directors to sell the (own) shares owned by OTP Bank Plc. to the Special Employee Co-Ownership Program to be created by the employees of the OTP Bank Plc.

Extraordinary General Meeting - 15 October 2021

4

Summary: Overview of OTP Group's performance

This year the adjusted return on equity is once again approaching the pre-pandemic level of 20%, as risk costs declined after a temporary jump in 2020. In the first half of 2021 the Group generated a record-breaking profit.

In Hungary, credit growth remained exceptionally high even during the pandemic, largely due to state subsidized lending schemes. The loan volume decline at some of the Group's foreign subsidiaries last year is expected reverse this year.

Credit quality has not deteriorated despite the pandemic situation, the share of Stage 3 loans is steadily declining, while the OTP Group continues to pursue a conservative provisioning policy.

OTP Group's capital position remained excellent even during the pandemic. In the 2021 European stress test conducted by the EBA, OTP achieved the best result among the regional banks active in the CEE region.

The excellent capital position created an opportunity to execute further acquisitions. Between 2016 and 2Q 2021, the OTP Group's performing loan portfolio increased 2.4-fold, almost 40% of the increase was due to acquisitions; 10 acquisitions have been announced, of which 8 transactions have already been completed; in addition, the acquisition of the Slovenian Nova KBM and the Uzbek Ipoteka Bank is underway.

OTP Group's outstanding financial performance is reflected in its market valuation, too: amongst regional banks active in the CEE region, OTP Bank has the highest valuation compared to its size.

In 2021 the Hungarian economic growth is expected to surpass 7%, the growth is to a great extent supported by the measures taken by the Government and the NBH to mitigate the effects of the pandemic situation and to restart the economy. The growth prospects of other countries in the Central and Eastern European region are also favourable.

Management expects credit growth to exceed 10% in 2021 as a whole, and the adjusted return on equity (ROE) to end up between 18-20%.

Extraordinary General Meeting - 15 October 2021

5

Disclaimer

OTP Bank Nyrt. published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 13:41:06 UTC.


© Publicnow 2021
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Financials
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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Mean consensus BUY
Number of Analysts 14
Last Close Price 17 550,00 HUF
Average target price 20 760,86 HUF
Spread / Average Target 18,3%
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Sándor Csányi Chairman & Chief Executive Officer
László Bencsik Chief Strategic & Financial Officer
Tibor Tolnay Chairman-Supervisory Board
Gábor Czikora Managing Director-IT Development
Gábor Csaba Bucsek Managing Director-IT & Bank Security
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