The Ukrainian subsidiary of Hungarian bank OTP sold the part of its loan portfolio, the cost of which was UAH 3.45 bln before the deduction of loan loss provisions, for UAH 431 mln (i.e. with the discount of 87.5%); as the result, the loan loss provisions, amounting to UAH 3 bln, were written off, according to the data of the bank report, Finbalance reports.
In 2016, the bank sold the part of its loan portfolio, the cost of which was UAH 2.95 bln before the deduction of loan loss provisions, for UAH 115 mln (i.e. with the discount of 96%); as the result, the loan loss provisions, amounting to UAH 2.83 bln, were written off.
In 2015, the bank sold the loans, totaling UAH 676.6 mln, for UAH 167.5 mln (i.e. with the discount of 75.3%); as the result, the loan loss provisions, amounting to UAH 509 mln, were written off.
The Hungarian group OTP in Ukraine also controls OTP Factoring, which could theoretically be the buyer of some part of loans.
OTP Bank (previously – Raiffeisen Bank Ukraine) was founded in 1998. Its sole shareholder is the Hungarian OTP Bank Plc. The Bank is the part of OTP Banking Group, which also includes such companies as OTP Factoring, OTP Capital AMC, OTP Leasing and OTP Credit LLC.
According to the data of the National Bank of Ukraine, as of January 2018, in terms of the amount of total assets, OTP Bank ranked 12th (UAH 29.8 bln) among 84 banks, operating in the country.
In January-March 2018, the assets of OTP Bank increased by 5.1% - up to UAH 30.9 bln (for 2017 – by 20.2%).
As per the results of Q1, OTP Bank declared the profit, amounting to UAH 612.6 mln, while for the whole 2017 it declared UAH 1 bln, for 2016 – UAH 954.1 mln. In 2015, the losses were UAH 2.85 bln; in 2014 – UAH 3.42 bln.
