By KYIV. Nov 8 (Interfax-Ukraine) – OTP Bank in January-September 2023 saw a net profit of UAH 4.748 billion compared to a net loss of UAH 16.7 million for the comparable period in 2022, the bank’s unconsolidated interim report states.
According to it, in particular, net profit in the third quarter of this year reached UAH 1.93 billion, which is 2.5 times higher than net profit for the same period last year.
It is indicated that net interest income for nine months increased by 26.1% – to UAH 6.35 billion, including in the third quarter an increase of 14.3% – to UAH 2.04 billion.
Meanwhile, net commission income in January-September of this year increased by 11.7% – to UAH 883 million, but in the third quarter decreased by 21.1% from July-September 2022 – to UAH 271.3 million.
A significant contribution to the improvement of the financial result was made by the revision of the loss from the reduction in utility: for the nine months of this year, “plus” UAH 287.3 million was recorded for this item versus “minus” UAH 4.38 billion for the same period last year, the reduction amounted to UAH 4.38 billion, including in the third quarter – respectively, “plus” UAH 601.4 million versus “minus” UAH 805.6 million.
The bank indicates that its total profit for the nine months of this year reached UAH 5.12 billion against a loss of UAH 49.6 million for January-September last year, including in the third quarter of 2023 the total profit amounted to UAH 1.87 billion versus UAH 822.7 million in the third quarter of 2022.
According to the report, in January-September of this year, the bank’s assets increased by UAH 3.04 billion, reaching UAH 94.05 billion as of September 30.
This growth is explained by an increase in investments in securities from UAH 32.85 billion to UAH 37.38 billion in the first half of the year and to UAH 41.36 billion in nine months.
As for the volume of cash and funds in the NBU, in the third quarter they decreased by 26.3% – to UAH 7.66 billion, but still remained significantly higher than the level at the beginning of the year – UAH 4.75 billion.
