OREANDA-NEWS. February 03, 2011. JSC OTP Bank reports solid 4Q 2010 profit. The Bank’s financial result according to the National Accounting Standards reached UAH 609.4 mln evidencing its outstanding performance after the financial result - UAH 464.3 million at the end of 2009. “The positive financial results for the reporting period allowed us to fully cover the losses in 2009, in the year of recession,” highlighted Mr. Dmitry Zinkov, Chairman of the Board of OTP Bank.

The Bank’s net interest income as of December 31, 2010, reached UAH 2 billion, while net commissions amounted to UAH 2.6 billion.

Corporate deposit portfolio showed strong growth throughout the year and reached UAH 3.8 billion as of December 31, 2010, while the retail segment totalled UAH 3.9 billion.

The Bank's total assets as of December 31, 2010, amounted to UAH 24.7 billion. The corporate loan portfolio showed significant growth throughout the second half of the year, and by the end of the year reached UAH 11.8 billion. Due to the repayment of loans and decreased volumes of retail lending in 2010 retail loan portfolio decreased to UAH 9.7 billion from UAH 15.7 billion. The total loan portfolio based on the results of 4Q 2010 amounted to UAH 21.4 billion pointing out the extraordinary efforts taken by the Bank to improve the quality of the loans.

“Sustainable financial position and positive financial results allowed us to restart active lending in all client segments. In particular, since July 2010, the Bank has attained active growth of the corporate loan portfolio; since September – it resumed auto lending, and since December – revived mortgage loan activity. Moreover, the Bank keeps on lending small and medium-sized business client segments”, commented Mr. Zinkov.

As of the end of the fiscal year, the Bank's liabilities decreased to UAH 21.2 billion compared to the same period previous year UAH 26.56 bln. During 2010, the Bank managed to repay its all foreign loans, including - the last USD  37 million tranche of the syndicated loan organized by Raiffeisen Zentralbank Oesterreich Aktiengesellschaft and Bayerische Landesbank.

As of December 31, 2010, JSC OTP Bank regulatory capital reached UAH 4.8 billion. The regulatory capital adequacy ratio (CAR) established at the level of 22.2%, which is more than twice as much than the required by the normative CAR minimum of 10%. Current liquidity ratio equalled 64.58%, while the minimum limit is 40%.