- OTP Bank’s total income was under the estimate at 597.62 billion forint, although there was an increase of 28% year-over-year (y/y).
- The net interest income saw a significant rise (+40% y/y) to 435.35 billion forint.
- Net fee and commission income stood at 121.16 billion forint.
- The bank’s net income increased by 23% y/y, totaling 239.96 billion forint.
- A positive balance of total risk costs at +HUF 6.9 billion was reported.
- No modification has been made to the Guidance published on 8 March 2024, as per OTP’s management.
- Beginning from 1Q 2024, only the effect of goodwill impairments and acquisitions will be removed from the Profit and Loss hierarchy and will be shown at the consolidated level as adjustment items.
- All other previous adjustment items will now be recorded at the specific geographies or business segments where they occur.
- The Bank currently has 14 buys, 4 holds, and 0 sells in its portfolio.
A look at OTP Bank Nyrt Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 5 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
OTP Bank Nyrt. has received high scores in Growth and Resilience factors, indicating a positive long-term outlook for the company. With a strong focus on expanding and growing its operations, coupled with the ability to withstand economic challenges, OTP Bank Nyrt. appears well-positioned for sustainable growth in the banking sector.
Although the Dividend score is moderate, the overall positive momentum and value attributed to OTP Bank Nyrt. suggest that investors may find it an attractive option for long-term investment. The company’s wide range of banking services, including retail and commercial offerings, along with a strong presence throughout Hungary, further solidifies its potential for continued success in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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