Otp Bank Nyrt · BET:OTP
Otp Bank Nyrt — Q3 2025 Earnings Presentation
47 slides from Otp Bank Nyrt's earnings presentation, 2025
Slide 1: OTP Group – Strong results and capital yield high returns
OTP Group – Strong results and capital yield high returns Investor presentation Based on 3Q 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; 4.3-fold net loan growth and 14 acquisitions in 11 years. 43% of net loans in Eurozone + ERM II countries, 75% within the EU Outstanding profitability: After 23.5% ROE in 2024
Slide 3: First nine months profit before tax increased by 8%
OTP Group’s first nine months profit before tax increased by 8% considering the prorated recognition of special items booked in one sum at the beginning of the year, driven by growing volumes and improved cost efficiency Consolidated profit development Key performance indicators of OTP Group conside
Slide 4: Special items booked in one sum for the whole year reached HUF 111 billion
Special items booked in one sum for the whole year reached HUF 111 billion. Had these items been booked evenly throughout the year, the cumulated profit would have been HUF 37 billion higher Special items 2025 9M 9M 2025 Difference after tax, full-year prorated accounted 9M 2025 HUF billion (a) (b)=
Slide 5: OTP Core's profit increased by 5%
OTP Core’s profit increased by 5% supported by widening margins and improving cost efficiency, while OTP CORE maintaining prudent provisioning OTP Core profit after tax Key performance indicators of OTP Core (without dividends received from subsidiaries, HUF billion) (adjusted, %) Considering the pr
Slide 6: Home Start Loan Program boosted housing loan demand in Hungary
The launch of Home Start Loan Program in September gave a big boost to housing loan demand in Hungary OTP CORE Quarterly mortgage loan applications at OTP Bank Monthly dynamics of submitted (HUF billion) applications (HUF billion) Non-subsidized housing loans Other subsidized housing loans Home Star
Slide 7: OTP Core solidified market position in cash loans and retail deposits
In 3Q OTP Core further solidified 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 also surpassed 40% Y-o-y change in cash loan contractual amounts in 9M 2025 Market share in b
Slide 8: Revival in micro and small enterprise loan demand continued
The revival in demand for micro and small enterprise loans continued in the third quarter, while the large OTP CORE corporate loan book also grew visibly, by 5% year-to-date. Corporate credit market share pierced 20% Performing corporate loan volume changes (%) OTP Group’s market share in loans to H
Slide 9: Foreign subsidiaries delivered strong performance in first nine months of 2025
Foreign subsidiaries delivered strong performance in the first nine months of 2025 Profit after tax1 ROE1 Cost / income ratio (HUF billion) 9M 2024 9M 2025 9M 2024 2024 9M 2025 9M 2024 2024 9M 2025 DSK Group (Bulgaria) 147 154 22% 22% 20% 33% 32% 33% OTP Bank Slovenia 83 88 16% 16% 16% 42% 42% 42% O
Slide 10: Consolidated net interest margin remained stable q-o-q
The consolidated net interest margin remained stable q-o-q, but improved by 5 bps y-o-y. The sensitivity to EUR rate cuts increased recently but moderated substantially since 3Q 2023 Drivers behind the q-o-q change of the consolidated net interest margin Sensitivity to rate changes 1 bps 1 bps -1 bp
Slide 11: Consolidated performing loans increased by 10% in nine months
Consolidated performing loans increased by 10% in the first nine months, mainly driven by strong retail momentum YTD 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
Slide 12: Turnaround in cash loan sales in Uzbekistan with Ipoteka Bank
In Uzbekistan the turnaround in cash loan sales became even more pronounced in 3Q with Ipoteka Bank IPOTEKA BANK further gaining market share. Local management is committed to continue on this track FX adjusted q-o-q changes in cash loans The surge in cash loan disbursements was primarily enabled 50
Slide 13: Consolidated deposits grew by 9% in nine months
In the first nine month consolidated deposits grew by 9%. Hungarian and Bulgarian household deposits kept on expanding YTD 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) (Russia) (
Slide 14: Stage 3 ratio decreased to 3.4%
The Stage 3 ratio decreased to 3.4%. 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 3Q 2025 80.4% 81.5% 83.4% 82.7% 83.3% 84.4% 1.9% 1.4% Stage 1 0
Slide 15: Group CET1 stood at 18.4% in 3Q 2025
In 3Q 2025 the Group’s CET1 stood at 18.4%. The ytd drop was partly due to Basel IV, while eligible profit less dividends covered the capital need of organic growth and supervisory permissions for share buybacks worth HUF 210 billion in total Capital adequacy and MREL ratios (%)1 Decomposition of th
Slide 16: Robust liquidity position and comfortable redemption profile
Robust liquidity position: 74% net loan to deposit ratio, 235% LCR, 152% NSFR and comfortable redemption profile; the leverage ratio is a way above OTP’s peers’ OTP Core – outstanding and recently redeemed FX wholesale bonds OTP Bank FX MREL-eligible bond maturity profile2 Issue Maturity Actual Issu
Slide 17: Credit rating upgrades in 2025
(+) positive In April S&P Global upgraded OTP Bank’s rating, to one notch above Hungarian sovereign. In October (rating (0) stable Moody’s upgraded OTP Bank, OTP Mortgage Bank and OBS. Ipoteka was upgraded by Fitch in June outlook) (-) negative Long-term credit ratings of OTP Group member banks and
Slide 18: 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. 18
Slide 19: 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 20: ESG developments according to strategic goals
ESG developments according to strategic goals: green exposures are on track to meet targets, while in November 2025 the Bank’s ESG rating by MSCI was upgraded from ‚BB’ to ‚A’ Green loan stock1 ESG RESULTS AND TARGETS (consolidated, HUF billion) 3Q 2025 Actual Long-term KPIs Building the Corporate:
Slide 21: Economic growth expected to accelerate in 2026
Among the key countries of the Group, following this year's more modest performance, in 2026 economic growth is expected to significantly accelerate in Hungary, Slovenia, and Serbia as well Hungary Bulgaria Slovenia Croatia 2022 2023 2024 2025F 2026F 2022 2023 2024 2025F 2026F 2022 2023 2024 2025F 2
Slide 22: Management reaffirmed its guidance for 2025
Management reaffirmed its guidance for the Group’s 2025 performance In 2025 the management doesn’t expect a meaningful change in the operating environment, with geopolitical uncertainties persisting. In light of 9M 2025 results and trends, management doesn’t consider it justified to make any substan
Slide 23: Further details and financials
Further details and financials 23
Slide 24: OTP Group provides universal banking services to over 7 million customers
OTP Group provides universal banking services to more than 17 million active customers in 11 countries, in many of them with dominant market position Major Group members Total assets1 Systemic position in Hungary OTP Bank Albania Moldova 3Q 2025 market share (%) Russia Russia Montenegro Ukraine 7% T
Slide 25: OTP Bank offers unique investment opportunity to access CEE banking
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 30 September 2025 Total number of ordinary shares: 280,000,010, each having a nominal value of HUF 10
Slide 26: Highest market capitalization ever
Outstanding and sustainable performance has supported the highest market capitalization ever, although valuation multiples have not yet fully recovered to pre-war levels Market capitalization: EUR 23.5 billion1 P/B and P/E ratios EUR billion P/E P/B 25 15.0 2.25 23.5 2.00 20 12.5 1.68 1.75 1.50 15 1
Slide 27: Net loan book grew 4.3-fold over 11 years
OTP Group’s net loan book grew 4.3-fold over the last 11 years, outpacing other banking groups active in the CEE region Consolidated net loan growth Compounded annual average net loan growth of regional (FX-adjusted, HUF billion) banking groups between 2014 – 9M 20251 Acquisitions Organic growth OTP
Slide 28: Total assets reached EUR 115 billion
Total assets reached EUR 115 billion driven by successful acquisitions and dynamic organic growth. As Hungary’s share in net loan dropped below 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)
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 sank to 32% Breakdown of the consolidated net loan book Net loan book, 3Q 2025 By country By product Hungary1 HUF 7,946 bn Bulgaria HUF 4,984 bn Slovenia HUF 2,890 bn Leasing Leasing Leasing Corporate 8% Mortgage 8% 8%
Slide 31: 35% of deposit book held in Hungary
35% of the consolidated deposit book is held in Hungary, while Bulgaria and Slovenia together hold another third. Household volumes account for 56% of the total customer deposit base Breakdown of consolidated customer deposits Customer deposits, 3Q 2025 By country By product Hungary1 HUF 11,759 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 9M 25 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% 22.7%3 Total Revenue
Slide 33: OTP Group outperformed regional peers in ROE and ROE/COE
In ROE and ROE/COE terms, OTP Group outperformed its regional peers both in 2024 and in the first nine months of 2025 ROE (%) ROE / COE P/B 5 November 2025 OTP 21.8 22.71 1.7 1.81 1.7 UniCredit 21.7 1.7 1.6 9M 2025 Intesa 20.0 1.6 1.6 Erste 15.7 1.3 1.6 KBC 14.2 15.01 1.3 1.41 1.8 Raiffeisen 8.5 0.4
Slide 34: Comparison with regional competitors on margins and efficiency
Compared to its regional competitors, OTP Group has higher margins, better or in-line cost efficiency, with its credit risk cost rate being higher NIM (%) Cost / income (%) Credit risk cost rate (%) Leverage ratio (%) 4.30 39.31 39.5 0.242 0.70 10.3 N/A 36.8 0.10 5.2 9M 2025 N/A 38.9 0.25 6.1 2.39 4
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 3Q 2025 data for other CEE/CIS Hungarian credit institution system countries (in % of GDP) 118% 80% 32.3
Slide 36: Operating profit increased by 16% y-o-y
Operating profit increased by 16% y-o-y organically and FX-adjusted Y-o-Y Q-o-Q Consolidated P&L (in HUF billion) 2024 9M 2024 9M 2025 FX-adj. w/o 2Q 2025 3Q 2025 FX-adj. OBR Net interest income 1,783 1,322 1,435 9% 481 489 4% Net fees and commissions 546 397 444 11% 152 153 2% Other net non-interes
Slide 37: Net interest income advanced by 9% y-o-y
Cumulated net interest income advanced by 9% y-o-y organically and FX-adjusted; in 3Q the improvement Sale of continued with 4% FX-adjusted q-o-q growth Romania NET INTEREST 9M 2025 3Q 2025 9M 2025 Y-o-Y 3Q 2025 Q-o-Q 1 The cumulative NII increased by 12% INCOME (HUF billion) (HUF billion) (HUF bill
Slide 38: Net fee income increased by 11% y-o-y
Sale of The first nine months net fee income increased by 11% y-o-y organically and FX-adjusted Romania NET FEE 9M 2025 3Q 2025 9M 2025 Y-o-Y 3Q 2025 Q-o-Q 1 At OTP Core, 9M net fee income INCOME (HUF billion) (HUF billion) (HUF billion) (HUF billion) increased by HUF 17 billion. A major part of thi
Slide 39: Other income moderated q-o-q
Sale of In the third quarter other income moderated q-o-q mainly due to base effects in Hungary Romania 9M 2025 3Q 2025 9M 2025 Y-o-Y 3Q 2025 Q-o-Q OTHER INCOME 1 (HUF billion) (HUF billion) (HUF billion) (HUF billion) At OTP Core the other income decreased by HUF 11 billion OTP Group 295 96 901 86
Slide 40: Operating costs increased by 11% y-o-y
In the first nine months operating costs increased by 11% y-o-y organically and FX-adjusted 2023 9M 2025 Y-o-Y Y-o-Y, FX-adjusted OPERATING COSTS (HUF billion) (HUF billion) (HUF billion) (HUF billion) 1 At OTP Core, cumulated costs went up by 11% y-o-y. Within that, other OTP Group 859 921 68 9%/12
Slide 41: Total risk costs created in 3Q
Out of the HUF 57 billion total risk costs created in 3Q, HUF 29 billion was recognized in Russia. In Bulgaria impairments were booked primarily on the consumer loan book, whereas in Uzbekistan on two large corporate exposures 2024 2024 2Q 2025 3Q 2025 9M 2025 9M 2025 1 TOTAL RISK COST credit risk c
Slide 42: Performing loan portfolio increased by 3% q-o-q
The consolidated performing loan portfolio increased by 3% q-o-q, driven by continued strong growth in retail exposures. Ipoteka Bank continued a turnaround in consumer lending, resulting in a 9% q-o-q increase in Uzbek consumer loans Q-o-Q performing (Stage 1+2) LOAN volume changes, adjusted for FX
Slide 43: Consolidated deposits expanded by 4% q-o-q
Consolidated deposits expanded by 4% q-o-q. The increasing trend in Hungarian and Bulgarian retail deposits continued Q-o-Q 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) (Russia)
Slide 44: 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 45: Development of own provision coverage ratios
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 46: OTP Group's performance recognized by professional organizations
OTP Group’s outstanding performance has traditionally been recognized by professional organizations 46
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