Otp Bank S/Adr R (OTPGF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to OTP Bank's conference call regarding the financial results for the first nine months 2025. Please be advised that the conference will be recorded. Kindly note that all participants will be in a listen-only mode. Following the presentation, 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 and thank you everyone for joining us today. Good morning or good afternoon, depending where you are. Let me jump into the presentation. As usual, the DAC is available for download in the website, but we're also projecting it parallel to the to the conf call. So maybe we go to page three. There we have the most important numbers, yes. So first of all, we have this kind of noise in the data due to the fact that many, most of these extra taxes or all the extra taxes in Hungary were booked in the first quarter for the entire year and some other supervisory fees as well in various other countries. Therefore, if you want to properly capture the business performance, then we need to accrue those costs over the year. So you can see two sets of numbers, one at the bottom with gray, that's the reported, and then this kind of the other set of numbers with green, where between the quarters, we have accrued, allocated evenly this one, of course. So if we look at these kind of accrued numbers, then the first nine months was 886 billion HUF, that's like 2.2, 2.3 billion euro, 5% up, last year, first nine months. But, I mean, the actual business performance was stronger than that. If you look at the, for instance, the pre-tax profit, then this growth was already 8%. That's due to the fact that the extra taxes, primarily ...