top bank OTP on Tuesday said that its second quarter net profit had risen by
8.4% year-on-year to HUF 50.7 billion (EUR 200.3 million), driven by foreign
subsidiary growth. First-half net profit rose by 8.9% to HUF 101.2 billion (EUR
company’s performance was largely in line with analyst expectations. OTP has
been on an expansion drive in recent years, buying banks across the region, and
the performance of the other banks offset a drop in net profit of 36% at the
core Hungarian business. However, OTP said this drop was due largely to a HUF
18.5 billion (EUR 73.1 million) dividend paid out in the first quarter.