Otp Bank Nyrt · BET:OTP
Otp Bank Nyrt — H1 2026 Earnings Presentation
55 slides from Otp Bank Nyrt's earnings presentation, 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 1H 2026 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; 4.6-fold net loan growth in 10 years and 14 acquisitions completed since 2014. 41% of net loans in Eurozone countries, 76% within the EU. Strong organic loan growth: In 1H 202
Slide 3: OTP Group's normalized semi-annual profit after tax declined by 2%
OTP Group’s normalized semi-annual profit after tax declined by 2%, determined by the strengthening HUF, the doubling windfall tax burden (HUF +30.2 billion) and the HUF 30.4 billion negative impact of the interest rate cap booked in 2Q Consolidated profit development FX-adjusted y-o-y change in Key
Slide 4: Normalized semi-annual profit before tax increased by 11% y-o-y adjusted for FX
The normalized semi-annual profit before tax increased by 11% y-o-y adjusted for FX and without the adverse impact of the interest rate cap scheme made indefinite Consolidated P&L Y-o-Y Q-o-Q (in HUF billion, with the prorated recognition of 2025 1H 2025 1H 2026 1Q 2026 2Q 2026 special items booked
Slide 5: Special items booked in one sum for the whole year reached HUF 173.5 billion
Special items booked in one sum for the whole year reached HUF 173.5 billion. Had these items been booked evenly throughout the year, the profit after tax would have been HUF 97.6 billion higher 2026 1H 1H 2026 Special items Difference FY burden reported 1H 2026 after tax, HUF billion profit after t
Slide 6: In July OTP Bank agreed to acquire Luminor
In July OTP Bank agreed to acquire Luminor, which could become a solid growth platform in the Baltics Details of the agreement: • signed on 20 July 2026, OTP Bank is to acquire 100% of the shares in Luminor Holding, the parent company of Luminor Bank; • from a consortium of private equity funds mana
Slide 7: Luminor Bank is a leading financial institution in the Baltics
Luminor Bank is a leading financial institution in the Baltics, with strong market position especially in mortgage lending and leasing Loan market share of TOP players in the Baltics1 (2025) Assets and loans of OTP Group and Luminor (2025) (EUR billion, 2Q 2026) Eurozone Luminor’s weight Swedbank 31
Slide 8: Luminor's net interest margin compares favourably, cost efficiency trails
While Luminor's net interest margin compares favourably with regional peers, its cost efficiency trails that of its competitors Luminor key financials1 (EUR million) Macroeconomic overview of the Baltics region2 Profit 2023 2024 2025 1H 2026 2021 2022 2023 2024 2025 2026F Total income 654 633 545 27
Slide 9: Luminor is undergoing a major IT overhaul
Luminor is undergoing a major IT overhaul, including the recent launch of its new pan-Baltic mobile app Digital banking in the Baltics Luminor Bloom Individuals using online banking on the market (%, 2025) 87 79 86 85 66 69 66 58 61 EE LT LV CZ HR HU PL SI SK Branches per 100,000 adults (2024) 24 19
Slide 10: OTP Core's first half profit declined by 6% due to doubling windfall tax
OTP Core’s first half profit declined by 6% due to the doubling windfall tax. Revenues were supported by strong OTP CORE volume growth and positive revaluation effects (MOL swap, subsidized loans and swaps: +HUF 19 billion) OTP Core profit after tax Key performance indicators of OTP Core (without di
Slide 11: Home Start Program boosted demand for housing loans
The Home Start Program gave a significant boost to demand for housing loans and became a key driver of OTP CORE retail lending growth. The mortgage loan portfolio expanded by 17% over the first six months Quarterly housing loan applications at OTP Bank Monthly dynamics of accepted (HUF billion) appl
Slide 12: OTP retained its leading position in the household segment
OTP retained its leading position in the household segment, while its market share in newly contracted OTP CORE cash loans, baby loans and workers’ loans remained above 40% Y-o-y change in cash loan contractual amounts in 2Q 2026 Market share in baby loan contractual amounts (%) Growth in cash loan
Slide 13: Hungarian corporate loan portfolio continued its expansion
Following dynamic growth in 2025, the Hungarian corporate loan portfolio continued its expansion in the OTP CORE first half of 2026, while the Bank’s corporate lending market share increased once again to all-time high Performing corporate loan volume changes (%) OTP Group’s market share in loans to
Slide 14: Foreign subsidiaries once again delivered strong performance in 1H 2026
With the prorated Foreign subsidiaries once again delivered strong performance in 1H 2026 recognition of deposit insurance fees Profit after tax ROE Cost / income ratio (HUF billion) 1H 2025 1H 2026 1H 2025 2025 1H 2026 1H 2025 2025 1H 2026 DSK Group (Bulgaria) 1101 1081 20% 20% 20% 34%/30% 1 34% 35
Slide 15: The consolidated 2Q margin went up by 3 bps q-o-q
The consolidated 2Q margin went up by 3 bps q-o-q and by 31 bps y-o-y. The NII sensitivity to a 100 bps change in EUR rates is around EUR 120 million, while the HUF rate sensitivity slightly moderated to HUF 23 billion Drivers behind the q-o-q change of the consolidated quarterly net interest margin
Slide 16: Consolidated performing loans increased by 8% in 1H 2026
Consolidated performing loans increased by 8% in 1H 2026, driven largely by the double-digit expansion of mortgage loans in Hungary and Bulgaria, while corporate loans also posted strong growth in Hungary, Bulgaria, Slovenia and Ukraine YTD performing (Stage 1+2) LOAN volume changes, adjusted for FX
Slide 17: Consolidated deposits increased by 6% during the first half
Consolidated deposits increased by 6% during the first half of the year, driven by strong growth in Hungary and Bulgaria YTD DEPOSIT volume changes, adjusted for FX-effect Cons. Core DSK OBS OBH OBSrb Ipoteka OBU CKB OBA OBM OBRu (Hungary) (Bulgaria) (Slovenia) (Croatia) (Serbia) (Uzbek.) (Ukraine)
Slide 18: Consolidated performing loans expanded by 5% q-o-q
Consolidated performing loans expanded by 5% q-o-q. All segments posted decent growth rates over the second quarter. Mortgage loan volumes grew the fastest in Bulgaria, Hungary and Albania Q-o-Q performing (Stage 1+2) LOAN volume changes, adjusted for FX effect Cons. Core2 DSK OBS OBH OBSrb Ipoteka
Slide 19: Consolidated customer deposits grew by 2% q-o-q
Consolidated customer deposits grew by 2% q-o-q 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) (Serbia) (Uzbek.) (Ukraine) (Monten.) (Albania) (Moldova) (Russia) Q-o-Q nominal change 774 295 74
Slide 20: Portfolio quality remained stable, Stage 3 ratio improving to 3.2%
Portfolio quality remained stable, with the Stage 3 ratio improving to 3.2% Development of the Group's main credit Own coverage of Stage 1+2 loans compared to regional peers quality indicators (%) at the end of 2Q 2026 (%) 1.7 82 83 83 83 87 88 1.2 Stage 1 0.7 0.7 ratio 0.4 0.3 0.4 Group w/o Russia,
Slide 21: OTP Group maintained its strong capital position
OTP Group maintained its strong capital position Capital adequacy and MREL ratios (%)1 Decomposition of the change in the CET1 ratio (based on the prudential scope of consolidation, % / changes in percentage points) 30.1 Impact of eligible profit with prorated recognition of special items booked in
Slide 22: 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 (2Q 2026, %) CET1 ratio Tier 1 ratio CAR ratio Leverage ratio 17.6 17.6 20.3 10.1 14.4 16.2 18.7 5.6 15.2 17.2 20.0 6.6 15.51 17.71 20.31 8.8 13.1 15.9 19.0 5.8 14.3 15.9
Slide 23: Record EUR 1 billion Tier 2 issuance strengthened funding position
Record EUR 1 billion Tier 2 issuance further strengthened OTP Group’s funding position OTP Core – outstanding FX wholesale bonds OTP Bank FX MREL-eligible bond maturity profile2 Issue Maturity Issuance Issued Amt. (EUR million equivalent) Instrument Call Date Coupon Date Date Currency (in mn) 30/09/
Slide 24: Multiple credit rating upgrades since the end of 2024
(+) positive (rating OTP Group’s entities have benefited from multiple credit rating upgrades since the end of 2024 outlook) (0) stable (-) negative Long-term credit ratings of OTP Group member banks and their changes since 2024 Moody’s Ratings S&P Global Ratings Fitch Ratings Scope Lianhe 31 Dec 20
Slide 25: OTP Group advanced into the TOP 400 in the Forbes Global 2000
OTP Group has advanced into the TOP 400 companies in the Forbes Global 2000 Forbes Global 2000 Ranking Methodology 2026 Ranking Revenue Profit Assets Market value (2022 Ranking) 64 (130) 244 83 40 185 97 (299) 450 64 47 167 The OTP Group 109 (225) 123 189 26 430 has advanced 679 positions in the For
Slide 26: OTP second-best performing bank among 50 largest listed European banks
OTP Bank retained its position as the second-best performing bank among the 50 largest publicly listed European banks in S&P Global Market Intelligence’s 2026 ranking Ranking metrics Non- Net Current Total interest Cost-to- Problem Current Previous Company ROAE interest NSFR CET1 vs. Headquarters as
Slide 27: OTP Bank achieved 13th place on the 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 28: OTP Group's performance recognized by professional organizations
OTP Group’s outstanding performance has traditionally been recognized by professional organizations Family-Friendly Workplace 28
Slide 29: Green exposures recorded another period of dynamic growth
Green exposures recorded another period of dynamic growth in 1H 2026 Stock of green exposures1 (consolidated, HUF billion) +13% 2,123 1,915 1,697 1,027 656 267 2022 2023 2024 2025 1H 2026 2028 plan OTP Bank’s main ESG ratings ESG risk rating 17.1 SEVERE HIGH MEDIUM LOW NEGLIGIBLE Nov 2025 upgrade A
Slide 30: Southeastern European economies may slow down in 2026
The tourism-driven Southeastern European economies, which have outperformed so far, may slow down in 2026, while the industrial economies of Central and Eastern Europe, which have underperformed, could gain momentum Hungary Bulgaria Slovenia Croatia 2023 2024 2025 2026F 2023 2024 2025 2026F 2023 202
Slide 31: Management amended its guidance for 2026 performance
In light of semi-annual results, management amended its guidance for the Group’s 2026 performance In light of the first-half 2026 performance and underlying trends, management revised one element of its guidance for 2026: in 1H 2026 the consolidated net interest margin reached 4.61%, which is higher
Slide 32: Further details and financials
Further details and financials 32
Slide 33: Universal banking services to around 17.5 million customers in 11 countries
OTP Group provides universal banking services to around 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 2Q 2026 market share (%) Russia Albania Russia Montenegro 8% OTP Ba
Slide 34: OTP Bank offers a 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 June 2026 Total number of ordinary shares: 280,000,010, each having a nominal value of HUF 100 and
Slide 35: Net loan book grew 4.6-fold over the last ~10 years
OTP Group’s net loan book grew 4.6-fold over the last ~10 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 2015 – 2Q 2026 CAGR 2Q 2026 YTD Organic growth OT
Slide 36: Total assets reached EUR 131 billion
Total assets reached EUR 131 billion driven by successful acquisitions and dynamic organic growth. As Hungary’s share in net loans fell to 34%, the foreign profit contribution showed a trend-like increase over the last several years Total assets development of OTP Group (in EUR billion) Geographical
Slide 37: 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 38: 76% of net loan book is located in EU countries
76% of the total net loan book is located in EU countries, with Hungary accounting for 34% Breakdown of the consolidated net loan book Net loan book, 2Q 2026 By country By product Hungary1 HUF 9,208 bn Bulgaria HUF 5,281 bn Slovenia HUF 2,889 bn Leasing Leasing Leasing Corporate 8% Mortgage 7% 8% Mo
Slide 39: 37% of the deposit book is held in Hungary
37% 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, 2Q 2026 By country By product Hungary1 HUF 12,415 bn B
Slide 40: 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 1H 26 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% 21.0%3 To
Slide 41: OTP outperformed most regional peers in ROE
In ROE terms, OTP Group outperformed most of its regional peers both in 2025 and 1H 2026 despite low leverage ROE (%) Leverage ratio (%) P/B 1H 2026 semi-annual averages OTP 17.5 21.01 10.1 1.8 UniCredit 23.7 5.1 1.7 1H 2026 Intesa 20.0 5.8 1.7 Erste 16.5 6.6 1.7 KBC 16.0 5.6 1.8 Raiffeisen 12.2 8.8
Slide 42: Higher margins, in-line cost efficiency versus regional competitors
Compared to its regional competitors, OTP Group has higher margins, in-line cost efficiency, while its credit risk cost rate for the CEE operation is commensurate to peers NIM (%) Cost / income (%) Credit risk cost rate (%) 0.21 w/o rate cap impact 4.61 41.41 42.0 0.422 0.76 N/A 34.3 0.17 1H 2026 N/
Slide 43: Hungarian loan penetration levels are 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 2Q 2026 data for other CEE/CIS Hungarian credit institution system countries (in % of GDP) 118% 82% 33.1
Slide 44: Semi-annual net interest income advanced by 19% FX-adjusted
Semi-annual net interest income advanced by 19% on an FX-adjusted basis NET INTEREST 1H 2026 Y-o-Y 2Q 2026 Q-o-Q 1H 2026 2Q 2026 HUF %, HUF %, 1 INCOME HUF billion HUF billion At OTP Core, 1H net interest income billion FX-adjusted billion FX-adjusted increased by 22% y-o-y supported by both margin
Slide 45: Consolidated net interest margin improved further in 2Q
The consolidated net interest margin improved further in 2Q. While margins in each segments typically stayed flat or moderated slightly, the composition effect, i.e. the declining share of lower margin businesses offset that NET INTEREST 1 2Q 2025 1Q 2026 2Q 2026 At OTP Core, NIM improved by 25 bps
Slide 46: Consolidated performing loans grew by 17% y-o-y
Consolidated performing loans grew by 17% y-o-y. Hungary, Bulgaria and Ukraine achieved the highest growth rates 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) (Uzb
Slide 47: Deposit portfolio grew by 12% y-o-y
Consolidated deposit portfolio grew by 12% y-o-y, mainly driven by Hungary and Bulgaria 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) (Serbia) (Uzbek.) (Ukraine) (Monten.) (Albania) (Moldova) (
Slide 48: Semi-annual net fee income increased 3% FX-adjusted
Semi-annual net fee income increased 3% on an FX-adjusted basis NET FEE 1H 2026 Y-o-Y 2Q 2026 Q-o-Q 1 1H 2026 2Q 2026 HUF %, FX-adj., HUF %, FX-adj., At OTP Core, the modest 2% y-o-y INCOME HUF billion HUF billion billion normalized1 billion normalized1 increase in half-year normalized net fees and
Slide 49: Other income declined by 21% in 1H 2026
In 1H 2026 other income declined by 21% (FX-adjusted), partially reflecting the trend-like decline in FX conversion volumes in Russia. In 2Q, the q-o-q drop was determined by lower FVA on subsidized retail loans and hedging swaps at OTP Core 1H 2026 2Q 2026 1H 2026 Y-o-Y 2Q 2026 Q-o-Q 1 OTHER INCOME
Slide 50: Normalized operating costs increased by 17% FX-adjusted
In 1H 2026, normalized operating costs increased by 17% FX-adjusted OPERATING 1H 2026 Y-o-Y Y-o-Y, FX-adjusted 1 At OTP Core semi-annual operating COSTS HUF billion HUF billion % HUF billion %, normalized1 expenses increased by 14% y-o-y, mainly driven by higher personnel OTP Group 634 67 12% 88 17%
Slide 51: HUF 68 billion total risk cost booked in 2Q 2026
The HUF 68 billion total risk cost booked in 2Q 2026 was determined by Hungary where the expected lifetime loss from the interest rate cap scheme was booked, and Russia 2025 2025 1Q 2026 2Q 2026 1H 2026 1H 2026 TOTAL RISK COST credit risk credit risk 1 HUF billion cost rate1 HUF billion HUF billion
Slide 52: Russian bond-related impairments released in 2Q
As Russian bonds maturing in May 2026 were paid, further Russian bond-related impairments were released in 2Q Russian bonds and related exposures (HUF billion) After the breakout of the war, in 1Q 2022 Russian government bond exposures of HUF 102 billion face value held in the books of OTP 128 135 1
Slide 53: Development of the Stage 1, Stage 2 and Stage 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) 2023 82.7% 80.5% 85.7% 89.9% 83.6% 84.0% 71.5% 53.0% 88.
Slide 54: 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) 2023 0.9% 0.8% 0.7% 0.3% 0.6% 0.
Slide 55: 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