OTP Bank's net profit decreases by 24% in Q1 2025 - to UAH 1.19 bln
OTP Bank (Kyiv) in January-March 2025 received UAH 1.19 billion of net profit, which is 24%, or UAH 370 million less than in the first quarter of 2024.
As stated in the bank's financial statements for the first quarter of 2025, pretax profit amounted to UAH 1.59 billion, which is 23.7%, or UAH 490 million less than in the same period in 2024.
OTP's net interest income for the reporting period increased by 5.5% to UAH 2.26 billion, while net commission income increased by 10.7% to UAH 270 million.
It is indicated that in the first quarter of 2025, the bank's profit from foreign currency transactions decreased by 21.4% to UAH 50 million, while the profit from foreign currency revaluation amounted to UAH 250 million against a loss of UAH 140 million in the first quarter of 2024.
At the same time, OTP in January-March of this year recorded a net loss from transactions with financial instruments at fair value and an impairment loss of UAH 280 million and UAH 150 million, respectively, while in January-March of last year, profits on these two items amounted to UAH 200 million and UAH 280 million, respectively.
The bank's expenses for employee benefits increased by 12.5% to UAH 510 million, and other operating and administrative expenses by 8.8% to UAH 160 million.
According to the reporting, during the reporting period, OTP increased loans and advances to banks from UAH 10.8 billion to UAH 24.22 billion, while investments in securities decreased from UAH 62.37 billion to UAH 50.73 billion. Loans and advances to customers increased by 3.6% to UAH 32.41 billion.
Since the beginning of the year, OTP's total assets have increased by 4.7%, or UAH 5.34 billion, to UAH 119.25 billion, and liabilities have increased by 4.2%, or UAH 3.93 billion, to UAH 93.20 billion.
Thanks to profitable activity, the bank's equity increased by 6.8%, or UAH 1.4 billion, to UAH 22.01 billion in the first three months of this year, including retained earnings of UAH 13.39 billion.
According to the National Bank of Ukraine (NBU), as of early February 2025, OTP Bank, with UAH 121.97 billion in total assets, was among the top 10 in this indicator among 61 banks.