Otp Bank S/Adr R (OTPGF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to OTP Bank's first quarter 2026 results conference call. Please be advised that this event is being recorded. During the presentation, all participants will remain in a listen-only mode. Following the formal remarks, there will be an opportunity to ask questions. At this point, I would like to hand over the floor to Mr. Laszlo Bencik, Chief Financial and Strategic Officer. Laszlo, the stage is yours. Thank you. Good morning or good afternoon, depending where you are, and thank you for joining us today on OTP Group's 2026 First Quarter Results Conference Call. You have the Stock Exchange Report, the Analyst Tables, and the today presentation available on the website. We are also broadcasting the slides as usual as part of this video call. As usual, I will make an attempt to summarize the main developments of the events during the first quarter, and then we will open the floor for your very good usual questions. So the first page It has been pretty stable for a long number of years now, which I think is a good sign, by the way. I think it's quite good that the most important kind of headline features of OTP Group have not changed, and we don't intend to change those, so we working hard for these features to continue to dominate performance. So I'm not going to elaborate too much on this, because I'm sure you know it by heart. Well, talking about first quarter results, unfortunately, just like in previous last couple of years, the first quarter result is very in a way confused, and it's confused by the huge one-off, or kind of the huge extra taxes we have to pay in Hungary, especially, and the fact that we have to account for all these taxes at the beginning of the year. We are not allowed to accrue them, accounting-wise. And in case of ex...