Otp Bank Nyrt · BET:OTP
Otp Bank Nyrt — Q4 2025 Earnings Presentation
47 slides from Otp Bank Nyrt's earnings presentation, March 2026
Slide 1: OTP Group – Strong results and capital yield high returns
OTP Group – Strong results and capital yield high returns Investor presentation Based on 4Q 2025 results
Slide 2: OTP Group is among the most successful banks in Europe
OTP Group is among the most successful banks in Europe Dominant position in CEE countries: Dominant position in 5 countries; 4.5-fold net loan growth and 14 acquisitions in 11 years. 42% of net loans in Eurozone + ERM II countries, 75% within the EU Strong organic loan growth: In 2025 the FX-adjuste
Slide 3: OTP Group's operating profit increased by 10% y-o-y
OTP Group’s operating profit increased by 10% y-o-y, driven by dynamically growing volumes and improving margin. Underlying loan quality improved further, while credit risk costs rate in CEE countries remained flat y-o-y Consolidated profit development Key performance indicators of OTP Group (%) (HU
Slide 4: OTP Core's profit decreased by 2% due to higher windfall taxes
OTP Core’s profit decreased by 2% mainly due to higher windfall tax expenses, while the net interest margin OTP CORE improved. In 2026 special taxes are set to increase further OTP Core profit after tax Key performance indicators of OTP Core (without dividends received from subsidiaries, HUF billion
Slide 5: Home Start Loan Program boosted housing loan demand
The launch of Home Start Loan Program in September 2025 gave significant boost to housing loan demand OTP CORE in Hungary Quarterly housing loan applications at OTP Bank Monthly dynamics of submitted (HUF billion) Non-subsidized housing loans applications (HUF billion) Other subsidized housing loans
Slide 6: OTP Core preserved market position in cash loans and retail deposits
In 2025 OTP Core preserved its market position in newly contracted cash loan volumes and retail deposits, OTP CORE while the Bank’s market share in new baby loan and workers’ loan contractual amounts remained above 40% Y-o-y change in cash loan contractual amounts in 2025 Market share in baby loan c
Slide 7: Hungarian corporate loans expanded in second half
Hungarian corporate loans expanded in the second half of the year, especially in the last quarter due to several OTP CORE big ticket corporate loan disbursements in 4Q. Corporate credit market share hit new heights at 21% Performing corporate loan volume changes (%) OTP Group’s market share in loans
Slide 8: Foreign subsidiaries delivered strong performance in 2025
Foreign subsidiaries delivered strong performance in 2025 Profit after tax1 ROE1 Cost / income ratio (HUF billion) 2024 2025 2024 2025 2024 2025 DSK Group 201 211 22% 20% 32% 34% (Bulgaria) OTP Bank Slovenia 113 106 16% 14% 42% 43% OTP Bank Croatia 62 55 14% 12% 47% 52% OTP Bank Serbia 66 79 17% 18%
Slide 9: Consolidated margin up 16 bps q-o-q; NII rate sensitivity
The consolidated margin went up by 16 bps q-o-q, thus in 2025 it improved by 7 bps. The NII sensitivity to a 100 bps change in EUR rates stayed at around EUR 130 million; the HUF rate sensitivity is HUF 20 billion per 100 bps decline Drivers behind the q-o-q change of the consolidated quarterly net
Slide 10: Consolidated performing loans increased by 15% in 2025
Consolidated performing loans increased by 15% in 2025, mainly driven by strong retail momentum Y-o-Y performing (Stage 1+2) LOAN volume changes, adjusted for FX effect Cons. Core2 DSK OBS OBH OBSrb Ipoteka OBU CKB OBA OBM OBRu (Hungary) (Bulgaria) (Slovenia) (Croatia) (Serbia) (Uzbek.) (Ukraine) (M
Slide 11: Consolidated deposits grew by 11% in 2025
In 2025 consolidated deposits grew by 11%, with strong retail deposit growth rates in Bulgaria, Serbia, Croatia and Hungary Y-o-Y DEPOSIT volume changes, adjusted for FX-effect Cons. Core DSK OBS OBH OBSrb Ipoteka OBU CKB OBA OBM OBRu (Hungary) (Bulgaria) (Slovenia) (Croatia) (Albania) (Moldova) (Ru
Slide 12: Stage 3 ratio moderated to 3.5% in 2025
The Stage 3 ratio moderated to 3.5% in 2025. Provisioning policy remained conservative compared to regional peers Development of the Group's main credit Own coverage of Stage 1+2 loans compared to regional peers quality indicators (%) at the end of 4Q 2025 (%) +3.2 1.8 80 82 83 83 83 87 1.2 Stage 1
Slide 13: Group CET1 stood at 18.1% at end of 2025
At the end of 2025 the Group’s CET1 stood at 18.1%. As the effect of profit generation somewhat exceeded the capital need of organic growth and return to shareholders, the y-o-y decline in the CET1 ratio was explained by regulatory changes Capital adequacy and MREL ratios (%)1 Decomposition of the y
Slide 14: Strong capital position relative to regional peers
OTP Group has strong capital position relative to relevant regional peers Peer comparison of capital adequacy and leverage ratios (4Q 2025, %) CET1 ratio Tier 1 ratio CAR ratio Leverage ratio 17.91 17.91 19.5 10.8 14.9 16.8 19.2 5.6 14.72 17.12 20.22 8.2 15.53 17.63 20.33 8.9 13.9 16.4 19.5 6.1 14.7
Slide 15: Robust liquidity position and redemption profile
Robust liquidity position: 77% net loan to deposit ratio, 251% LCR, 151% NSFR and comfortable redemption profile; the leverage ratio is well above OTP’s peers OTP Core – outstanding FX wholesale bonds OTP Bank FX MREL-eligible bond maturity profile2 (EUR million equivalent) Issue Maturity Issuance I
Slide 16: Credit rating upgrades of OTP Group members in 2025
(+) positive In April 2025 S&P Global upgraded OTP Bank’s rating, to one notch above Hungarian sovereign. In October (rating (0) stable outlook) Moody’s upgraded OTP Bank, OTP Mortgage Bank and OBS. Ipoteka was upgraded by Fitch in June (-) negative Long-term credit ratings of OTP Group member banks
Slide 17: OTP Bank second best performing among 50 largest European banks
In 2025 OTP Bank was named the second best performing among the 50 largest publicly listed European banks by S&P Global Market Intelligence . . . . . . . . . . . . . . . . . . Based on the 2024 data. 17
Slide 18: OTP Bank 13th place in 2025 EBA stress test
Out of 64 European banks, OTP Bank achieved the 13th place on the 2025 EBA stress test OTP Bank once again ranked in the top third in the OTP Bank achieved second place among its direct European Banking Authority’s comprehensive stress test competitors Three-year change in the fully loaded group-lev
Slide 19: OTP Group's performance recognized by professional organizations
OTP Group’s outstanding performance has traditionally been recognized by professional organizations 19
Slide 20: ESG developments: green exposure targets met
ESG developments according to strategic goals: the green exposure targets for end-2025 were met. In November 2025 the Bank’s ESG rating by MSCI was upgraded from ‚BB’ to ‚A’ Green loan stock1 (consolidated, HUF billion) 2,123 +13% 1,697 1,500 The primary ESG KPI for the 2021-2025 period has been 1,0
Slide 21: Updated baseline macro scenario with elevated energy prices
In the updated baseline scenario we assume highly elevated energy prices temporarily, followed by gradual normalization Hungary Bulgaria Slovenia Croatia 2022 2023 2024 2025E 2026F 2022 2023 2024 2025E 2026F 2022 2023 2024 2025E 2026F 2022 2023 2024 2025E 2026F GDP growth (annual, %) 4.3 -0.8 0.6 0.
Slide 22: Management guidance for 2026 performance
Management guidance for the Group’s 2026 performance (as presented on 6 March 2026) In 2026 the management doesn’t expect a material change in the operating environment, with geopolitical uncertainties persisting. o FX-adjusted organic performing loan volume growth may be around 15% achieved in 2025
Slide 23: Update on capital allocation considerations
Update on considerations concerning capital allocation (as presented on 6 March 2026) Regarding the capital adequacy ratio targets, the Management is committed to maintain strong capital positions both in absolute and relative terms, therefore we target capital ratios comparable to our relevant regi
Slide 24: Further details and financials
Further details and financials 24
Slide 25: Universal banking services to more than 17.5 million customers in 11 countries
OTP Group provides universal banking services to more than 17.5 million active customers in 11 countries, in many of them enjoying dominant market position Major Group members Total assets1 Systemic position in Hungary OTP Bank Moldova 4Q 2025 market share (%) Russia Albania Russia Montenegro 7% Tot
Slide 26: Unique investment opportunity to access the CEE banking sector
OTP Bank offers a unique investment opportunity to access the CEE banking sector. The Bank is a well-diversified and transparent player without strategic investors Ownership structure of OTP Bank on 31 December 2025 Total number of ordinary shares: 280,000,010, each having a nominal value of HUF 100
Slide 27: Net loan book grew 4.5-fold over 11 years
OTP Group’s net loan book grew 4.5-fold over the last 11 years, outpacing other banking groups active in the CEE region Consolidated net loan growth Consolidated net loan growth of regional banking groups1 (FX-adjusted, HUF billion) (%) Acquisitions 2014 - 2025 CAGR 2025 Organic growth OTP Group 15
Slide 28: Total assets reached EUR 118 billion
Total assets reached EUR 118 billion driven by successful acquisitions and dynamic organic growth. As Hungary’s share in net loan dropped to 1/3, the profit contribution of foreign subs showed a trend-like increase over the last several years Total assets development of OTP Group (in EUR billion) Ge
Slide 29: 14 acquisitions completed between 2014 and 2023
Between 2014 and 2023, altogether 14 acquisitions were completed. As a result of the Ipoteka Bank acquisition in Uzbekistan, in 2023 OTP Group entered the Central Asian region Country Date of Net loans Market share Book value Target bank (seller) closing (HUF billion) before / after1 (%) (EUR millio
Slide 30: 75% of net loan book invested in EU countries
75% of the total net loan book is invested in EU countries, while Hungary’s share moderated to 33% Breakdown of the consolidated net loan book Net loan book, 4Q 2025 By country By product Hungary1 HUF 8,557 bn Bulgaria HUF 5,182 bn Slovenia HUF 2,928 bn Leasing Leasing Leasing Corporate 8% Mortgage
Slide 31: 34% of deposit book held in Hungary
34% of the consolidated deposit book is held in Hungary, while Bulgaria and Slovenia together hold another third. Household volumes account for 58% of the total customer deposit base Breakdown of consolidated customer deposits Customer deposits, 4Q 2025 By country By product Hungary1 HUF 11,459 bn B
Slide 32: ROE remained above 20% despite low leverage
Despite low leverage, ROE remained above 20% supported by recovering margins and cost efficiency gains 2003-2008 2009-2013 average average 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 ROE 29.4% 8.3% -7.4% 5.1% 15.4% 18.5% 18.7% 20.3% 10.9% 17.0% 11.0% 27.2% 23.5% 21.6% Total Revenue 8
Slide 33: ROE, P/B and leverage versus regional peers
In ROE terms, OTP Group outperformed its regional peers both in 2024 and 2025 despite low leverage ROE (%) Leverage ratio (%) P/B 2025 annual averages OTP 21.6 10.8 1.4 UniCredit 19.2 5.4 1.5 Intesa 18.0 6.1 1.5 2025 Erste 15.7 8.2 1.4 KBC 15.0 5.6 1.6 Raiffeisen 6.9 8.9 0.5 2024 annual averages OTP
Slide 34: Margins, cost efficiency and risk cost versus competitors
Compared to its regional competitors, OTP Group has higher margins, better or in-line cost efficiency, with credit risk cost rate of the CEE operation being commensurate to peers NIM (%) Cost / income (%) Credit risk cost rate (%) 4.34 41.7 0.161 0.66 N/A 38.5 0.15 N/A 42.2 0.41 2025 2.41 47.9 0.21
Slide 35: Hungarian loan penetration still low in regional comparison
Hungarian loan penetration levels are still low in regional comparison implying good volume growth potential Market penetration levels in Hungary in ... Net customer loan to deposit ratio in the 4Q 2025 data for other CEE/CIS Hungarian credit institution system countries (in % of GDP) 118% 78% 32.5
Slide 36: Annual operating profit increased by 10% y-o-y
Annual operating profit increased by 10% y-o-y organically and FX-adjusted Y-o-Y Q-o-Q Consolidated P&L (in HUF billion) 2024 2025 FX-adj. 3Q 2025 4Q 2025 FX-adj. w/o OBR Net interest income 1,783 1,945 10% 489 509 5% Net fees and commissions 546 604 11% 153 160 6% Other net non-interest income 306
Slide 37: Cumulated net interest income advanced by 9%
Cumulated net interest income advanced by 9% y-o-y organically and FX-adjusted; in 4Q the improvement continued with 4% FX-adjusted q-o-q growth NET INTEREST 2025 4Q 2025 2025 Y-o-Y 4Q 2025 Q-o-Q 1 At OTP Core, the annual NII rose by INCOME (HUF billion) (HUF billion) (HUF billion) (HUF billion) 13%
Slide 38: Net fee income increased by 11% in 2025
In 2025 the net fee income increased by 11% y-o-y organically and FX-adjusted NET FEE 2025 4Q 2025 2025 Y-o-Y 4Q 2025 Q-o-Q 1 At OTP Core, annual net fees grew INCOME (HUF billion) (HUF billion) (HUF billion) (HUF billion) by 13% y-o-y, or by HUF 28 billion. Growth was primarily driven by higher OTP
Slide 39: Other income moderated q-o-q in the fourth quarter
In the fourth quarter other income moderated q-o-q mainly due to Hungary and Russia 2025 4Q 2025 2025 Y-o-Y 4Q 2025 Q-o-Q OTHER INCOME 1 (HUF billion) (HUF billion) (HUF billion) (HUF billion) At OTP Core the other income decreased by HUF 4.1 billion OTP Group 368 73 661 62 20%/24%1 -23 -24%/-22%2 q
Slide 40: Operating costs increased by 14% in 2025
In 2025 operating costs increased by 14% y-o-y organically and FX-adjusted 9M 2023 2025 Y-o-Y Y-o-Y, FX-adjusted OPERATING COSTS 1 (HUF billion) (HUF billion) (HUF billion) (HUF billion) At OTP Core operating expenses grew by 17% y-o-y, which was influenced by the HUF 20 billion donation granted for
Slide 41: HUF 119 billion of total risk costs recognized in Russia
Out of the HUF 197 billion total risk costs booked in 2025, HUF 119 billion was recognized in Russia. Similarly, in 4Q Russian impairments accounted for most of the consolidated total risk cost figure 2024 2024 3Q 2025 4Q 2025 2025 2025 TOTAL RISK COST credit risk credit risk 1 (HUF billion) (HUF bi
Slide 42: Maturities of Russian bond exposures in 4Q 2025
In 4Q 2025 there were maturities from the Group’s Russian bond exposures. Management’s expectations regarding the ongoing proceedings related to the principal repayments are positive Russian bond exposures (HUF billion) Non-interest bearing After the breakout of the war, in 1Q 2022 Russian governmen
Slide 43: Performing loan portfolio increased 5% q-o-q
The consolidated performing loan portfolio increased by 5% q-o-q, with Hungarian mortgage loan growth exceeding 10% and corporate gaining momentum especially in Hungary on the back of several big ticket loans, as well as in the Ukraine Q-o-Q performing (Stage 1+2) LOAN volume changes, adjusted for F
Slide 44: Consolidated deposits grew by 2% q-o-q
Consolidated deposits grew by 2% q-o-q. Bulgarian retail deposit inflows were induced by the Euro adoption from 2026. Hungarian corporate deposit outflows were partly due to the state pooling of municipal deposits from October Q-o-Q DEPOSIT volume changes, adjusted for FX-effect Cons. Core DSK OBS O
Slide 45: Development of Stage 1, 2 and 3 ratios
Development of the Stage 1, Stage 2 and Stage 3 ratios Cons. Core DSK OBS OBH OBSrb Ipoteka OBU CKB OBA OBM OBRu Merk. (Hungary) (Bulgaria) (Slovenia) (Croatia) (Serbia) (Uzbek.) (Ukraine) (Monten.) (Albania) (Moldova) (Russia) (Hung. leasing) 2022 83.4% 83.6% 88.6% 88.2% 83.3% 86.6% - 41.4% 87.0% 8
Slide 46: Development of own provision coverage ratios by Stage
Development of the own provision coverage ratios in different Stage categories Cons. Core DSK OBS OBH OBSrb Ipoteka OBU CKB OBA OBM OBRu Merk. (Hungary) (Bulgaria) (Slovenia) (Croatia) (Serbia) (Uzbek.) (Ukraine) (Monten.) (Albania) (Moldova) (Russia) (Hung. leasing) 2022 1.0% 0.8% 1.1% 0.2% 0.5% 0.
Slide 47: Important information, disclaimers and contacts
Important information, disclaimers and contacts Referring to both equity and fixed income investors: This presentation has been prepared by OTP Bank Nyrt. ("OTP Bank") and is the sole responsibility of OTP Bank. This presentation and the information contained herein is strictly confidential to the r