The OTP banka Supervisory Board was today presented with the report on the operations of OTP banka and the companies of the OTP banka Group for the period January – December 2014. Throughout last year, both the Bank and the Group delivered stable, sound and, once again, profitable performance, thereby meeting one of the key targets set for 2014. Apart from reporting good results, the Bank and the OTP banka Group managed to reduce their total assets and the volumes of lending, in addition to introducing a number of measures aimed at making their organisational structures slimmer and their operations more efficient, all of which was carried out to comply with the restructuring programme. Focus was placed last year on the consolidation of the Group, on the operations of the Group´s core members, and on the Group´s principal activity.
The Supervisory Board was informed of the possibility that Aleš Hauc, President of the Management Board, might be absent for a prolonged period due to health-related issues. In this regard, the Supervisory Board concluded that, despite the absence of its President, the OTP banka Management Board remains fully operational and has all the necessary powers, given that, in accordance with Article 15 of the OTP banka Articles of Association, two members of the Management Board are sufficient to represent the Bank.
Considering this, the Management Board members Robert Senica and Sabina Župec Kranjc may jointly reach any managerial decision on behalf of the Bank. In addition, the reassignment among the Management Board members of the responsibilities and areas of work covered by the President has been agreed to ensure the smooth running of the Management Board and the Bank as a whole.
The Supervisory Board was also briefed on the progress of the privatisation of OTP banka. In the last stage of the sale procedure, OTP banka met all its obligations and provided potential investors with all relevant information. Irrespective of the outcome of the sale, in 2015 the Bank will continue to implement the measures arising from the restructuring programme and the commitments given to the European Commission by the Republic of Slovenia and itself. Peter Kukovica, Chairman of the Supervisory Board, said:
“The Supervisory Board notes that during the past two years, which have put enormous pressure on the Bank´s operations, a large number of challenging initiatives have been undertaken that helped the OTP banka Group return to viability and restore profitability. The efforts made are reflected in the positive results reported for 2014 by both the Bank and the Group. These results must serve as an encouragement for OTP banka, but also as an obligation to continue pursuing the adopted strategy and to further strengthen the trust that its customers and other stakeholders have placed in it.”
Attachment: First information on the results of OTP banka for the period January – December 2014
