Hledat v komentářích
Investiční doporučení
Výsledky společností - ČR
Výsledky společností - Svět
IPO, M&A
Týdenní přehledy
 

Detail - články
OTP Bank - Interview with CFO

OTP Bank - Interview with CFO

9.7.2009 11:51

Laszlo Urban, the CFO of OTP Bank gave a press interview yesterday. The main points include:

Profit target reiterated: The CFO reiterated 2009 net profit target of above HUF 150bn.

No need for additional capital by 2010 year end: He maintained that the bank does not need additional capital at least until 2010 year end. If OTP Bank would come to the market that would be only considered as ‘confidence-boosting step’ and would be a small amount. He added that OTP could soon conclude talks with the EBRD over a subordinated loan and other forms of cooperation.

Asset quality deteriorated in Hungary, but stable in Ukraine: Asset quality is expected to deteriorated further, however recently the bank sees quicker formation of NPLs in Hungary (amounting to 5%-6%), but relatively stable development over 1Q09 in Ukraine (NPLs amount to 11%).

No sale of foreign subsidiaries considered: Foreign subsidiaries may need some US$ 100m- US$ 200m capital by the year end. No sale of foreign subsidiaries is considered now.

Our view:
Management guidance for a net profit of at least HUF 150bn (-30.6% y/y on an adjusted basis) is optimistic and we expect this to be missed by just over 5%. However, our net earnings forecast is also 38% higher than the pessimistic consensus of HUF 102.8bn (source: Bloomberg). We expect a better-than-expected net profit in 1Q09, to drive further upgrades as the year develops. We expect a neutral trading impact of the news, as we consider the interview to be reiteration of previous statements.


Váš názor
Na tomto místě můžete zahájit diskusi. Zatím nebyl zadán žádný názor. Do diskuse mohou přispívat pouze přihlášení uživatelé (Přihlásit). Pokud nemáte účet, na který byste se mohli přihlásit, registrujte se zde.
Aktuální komentáře

Související komentáře
Nejčtenější zprávy dne
Nejčtenější zprávy týdne
Nejdiskutovanější zprávy týdne
Denní kalendář hlavních událostí
Nebyla nalezena žádná data