OTP Bank JSC, Ukraine

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1 OTP Bank JSC, Ukraine Partner Presentation Last update April 26, 2011

2 Content Business Profile and Macroeconomic Overview Financial Performance 2

3 About OTP Bank JSC Assets Main indicators (IFRS, 2010) Equity Profit ROE 10% CAR 31% Cost/Income ratio 41% Branch network UAH 24.99bln UAH 3.82bln UAH 344 mln 12 regional directorates, 187 banking outlets and 2 representative offices Number of customers over Owner Registered in Ukraine % OTP Bank Plc., Hungary, since 2006 Being a representative of OTP Group in Ukraine and 100% subsidiary of OTP Bank Plc, Public Joint-Stock Company OTP Bank is one of the largest domestic banks, acknowledged leader of Ukraine s financial sector Bank provides corporate and retail clients, as well as small and medium enterprises with full range of financial services Represented in the Ukrainian market since 1998, the Bank enjoys strong reputation as a socially responsible, reliable and stable financial institution offering its customers the services of the European quality standard 3.35 Main financial figures, UAH bln (under IFRS*) Assets Loan portfolio (after provisioning) Deposits from customers Shareholders Equity * Source: Based on audited IFRS data 3

4 Macroeconomics and banking sector GDP, % YoY CPI, % YoY * F * F Official NBU rates 12 USD/ UAH rate 11 EUR/ UAH rate Macroeconomics Stable political environment since 2010 IMF and Ukrainian Government renewed cooperation in 2010 Positive GDP growth in 2010 of 4.2% YoY vs. 15.1% in 2009 CPI decreased to 9.1% YoY in 2010 (from 12.3% in 2009) IMF forecasts 4.5% GDP growth in 2011 and average annual CPI at 9.8% during 2011 Cumulative Foreign Direct Investments Stock reached USD 40 bln in 2009 and USD 44.7 bln in Net FDI inflow amounted to USD 4.7 bln in 2010 against USD 4.3 bln in 2009 Improvement in Ukraine s international credit ratings with a stable outlooks: Fitch - B, S&P - B+, Moody s - B2. Banking sector figures (as of ) 175 banks licensed by the NBU Total banks capital: equivalent USD 18.3 bln Total net assets: eq. USD bln Total net interest income: eq. USD 6.5 bln Total net commission income: eq. USD 1.6 bln Total financial result of the sector was negative: eq. USD -1.6 bln Source: National Bank of Ukraine, State Statistics Committee of Ukraine * IMF forecast 4

5 Market position As of YE2010 OTP Bank was the 2nd largest bank in in terms of profit after tax and the 10th largest bank in terms of total assets TOP 17 largest Ukrainian banks by assets (arranged by profits, UAS*) as of YE2010, in UAH ths: Name (Owner) # Profit/Loss # Assets Share # Capital Share Privatbank (private) OTP BANK (OTP Group) Oschadbank (Ukraine) FUIB (private) Brokbusinessbank (private) Ukreximbank (Ukraine) Ukrsotsbank (UniCredit Group) Creditprombank (private) Ukrgazbank (Ukraine) Nadra Bank (private) Alfa-Bank (Alfa Group) Raiffaisen Bank Aval (Raiffaisen Group) Finance & Credit Bank (private) VTB Bank (VTB Group) Prominvestbank (VEB Group) UkrSibbank (BNP Paribas Group) Forum Bank (Commerzbank Group) Top 17 by assets - in total All 175 Banks - in total * Source: National Bank of Ukraine, under Ukrainian Accounting Standards (UAS) 5

6 Strategy and targets till 2014 To keep strong market position: Increase in SME lending Increase in VIP individuals lending (Private Banking) Brand No.1 among VIP individuals Increase in assets Increase in deposits To improve financial results: ROAE increasing Non-interest income increasing Cost to income ratio decreasing Main directions of strategy development Strong market position Operational process improving To improve further quality: Maintaining of high corporate and ethic standards Reaching of high clients loyalty level Superior service quality Risk management improving Increasing of bank s activity efficiency Attracting, saving and developing of the best employees Ukraine Individual approach & client orientation Bank No. 1 for the clients Source: OTP Bank 6

7 Main achievements in debt capital markets and cooperation with IFOs/FIs 2002 EBRD established US$ 10 million uncommitted revolved line under Trade Facilitation Program (TFP) which was increased to $20 million in cooperation with EBRD and IFC under different programs May 2007 debut syndicated loan facility: US$ 150 million for 1 year, Libor % Successfully repaid in 2008 (MLA: RZB) April 2008 US$ 65 million subordinated loan facility from EBRD September 2008 the second syndicated loan facility: US$ 100 million the last successful syndicated deal for a Ukrainian bank in 2008 (MLAs: RZB and BayernLB) Tranche A: 1Y US$ 63 million, Libor % Successfully repaid in September 2009 Tranche B: 2Y US$ 37 million, Libor % Successfully repaid in September 2010 October 2008 US$ 50 million agreement with EBRD under Ukrainian Energy Efficiency Program (UKEEP) for 5 years. July - December 2009 participation in restructuring of Nadra Bank s debts: OTP Bank Ukraine was among the mandated Coordination Committee members September 2009 cooperation with Citibank International Plc: continuing agreement for reimbursement of trade advances (CARTA) signed June and October 2009 joining IFC s Global Trade Finance Program (GTFP) as an issuing bank: GTFP limit set up in the initial amount of US$ 20 million in June and documentation was signed in October February and November 2009 US$ 50 million and US$ 30 million subloans were received from OTP Group. February and September 2010 widening cooperation under EBRD s Trade Facilitation Program (TFP): Confirming bank agreement was signed EBRD TFP line was increased to US$ 20 million and then to US$ 50 million accordingly December 2010 widening cooperation under IFC s Global Trade Finance Program (GTFP): GTFP line was increased by US$ 10 million to US$ 30 million Source: According to public and internal sources 7

8 Awards The Best Private Banking in Ukraine by Euromoney Best foreign bank in terms of corporate social responsibility by Kontraty magazine One of the most reliable banks of the country Best IT-infrastructure virtualization project Best Company of Finance Market by InvestGazeta magazine The Most Professional Bank by Business financial magazine Best Kyiv Commercial Bank by Kyiv Post magazine 10 Best Learning Companies by Leading HR-magazine Personnel Training The Best of «50 Best Employers by Delovoy magazine Top 5 of the Best Employers in Banking by Correspondent magazine The Most Transparent Bank by Standard and Poor s The Most Styled Bank, Best Service Quality Bank by Delo newspaper Source: According to public sources 8

9 International Ratings OTP Bank JSC (Ukraine) Moody s OTP Bank Plc (Hungary) Moody s Standard and Poor's Bank Financial Strength Rating/ Outlook Local Currency Deposit Foreign Currency Deposit By national scale Outlook Bank Financial Strength Rating/ Outlook D- / Negative Ba1 / NP B3 / NP Aa1.ua Stable D+ / Stable Local Currency Deposit Baa3 / P-3 Foreign Currency Deposit Baa3 / P-3 Outlook Foreign Long/Short Term Local Long/Short Term Outlook Fitch Support 3 Negative BBB- / A-3 BBB- / A-3 Negative The international ratings of OTP Bank JSC are the highest possible ones for Ukrainian banks constrained by the country ceiling. In October 12, 2010 Moody s raised outlook of Foreign Currency Deposit Rating from negative to stable following the same decision for country ratings. Taking into account political stability, course to reforms, cooperation with the International Monetary Fund and economy growth it is expected that ratings can have positive dynamics in the upcoming years. Source: Moody s, S&P, Fitch 9

10 Content Business Profile and Macroeconomic Overview Financial Performance 10

11 Main components of the balance sheet Assets (in eq. USD mln) Loan portfolio (after provisioning) (in eq. USD mln) Deposits from customers (in eq. USD mln) Shareholders Equity, (in eq. USD mln) Share Capital, (in eq. USD mln) Source: Based on audited IFRS data 11

12 Income figures and results Net interest income (before provision) (in eq. USD mln) 314 Net non-interest income, (in eq. USD mln) Operating income (before provisioning) (in eq. USD mln) Profit after tax (in eq. USD mln) Source: Based on audited IFRS data 12

13 Major performance indicators Capital Adequacy Tier 1 ratio 31% Loans to Deposits 450% 396% 14% 11% 16% 16% 13% 14% 13% 14% 11% 12% 23% 11% 15% 176% 175% 248% 309% 280% Cost to Income ratio ROE, % ROA, % % 40% 36% 46% 44% 34% 41% n/a 1.3 Source: Based on audited IFRS data 13

14 Assets Quality Provision/Gross loan portfolio 15.1% 13.9% 2.3% 1.4% 1.5% 0.9% 3.1% Operations with LLC OTP Factoring Ukraine In late 2009 LLC OTP Factoring Ukraine was established as a 100% subsidiary of OTP Faktoring Zrt, Hungary. LLC OTP Factoring Ukraine is a financial company supervised by the Ukrainian State Financial Authority, and having highly professional employees it is specialized in working with problem loans and recovery of debts. In 2009 and 2010 OTP Bank sold to LLC OTP Factoring Ukraine NPLs in gross amount of UAH mln and UAH 4,740.6 mln at the price of UAH mln and UAH 2,211.3 mln, respectively. Source: Based on audited IFRS data 14

15 Contacts Public Joint-Stock Company OTP Bank 43, Zhylianska St Kyiv Ukraine Debt Origination and Capital Markets Dpt. Phone: Fax: Mr. Mykhailo Vidiakin Head of Debt Origination and Capital Markets Dpt. 15

16 Disclaimer This presentation has been prepared by Debt Origination and Capital Markets Department of OTP Bank JSC, Ukraine (the Bank ). The Bank does not accept any responsibility or liability for any loss (whether direct, indirect, consequential or other) arising from any use of this document or its contents. This presentation does not constitute an invitation to acquire, or an offer for subscription, purchase or otherwise of any product or securities of the Bank or for the benefit of the Bank and is not intended to provide the basis for any credit and should not be considered as a recommendation that any investor or partner should subscribe for or purchase any securities or perform any other actions. The information contained herein is subject to change without notice and past performance is not indicative of future results. No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of the Bank. This presentation contains forward-looking statements. The words believe, expect, anticipate, intend and plan and similar expressions identify forward-looking statements. All statements other than statements of historical facts included in this presentation including, without limitation, those regarding the Bank s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to our products), are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Bank s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Bank s present and future business strategies and the environment in which the Bank will operate in the future. Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate. The forward-looking statements in this presentation speak only as at the date of this presentation. This presentation is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. 16

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