At today's regular meeting of the OTP banka's Supervisory Board, the members of the Board discussed the performance of the OTP banka Group in the first three months of 2011. Considering the ongoing deterioration in the Slovene financial and real economy sector, the Supervisory Board members unanimously assessed the performance of the OTP banka Group as good. In addition, they expressed their confidence in the ability of the Group to accomplish the financial plan by the end of the year.
For the period from 1 January to 31 March 2011, the OTP banka Group reported a net profit of €5.1 million, which is €2 million above the figure reported by OTP banka d.d. The Group's total assets at the end of March totalled €5.9 billion, an increase of €86,021 thousand from the 2010 year-end. Following the two consecutive quarters in which its total assets declined, the Group managed to increase its business volume in the first quarter of 2011.
At the end of March 2011, the aggregate market share of OTP banka and PBS in terms of total assets accounted for 11.0% of the Slovene banking system. Net loans to customers amounted to €3,975.9 million, a decrease of €58,935 thousand from the 2010 year-end.
Upon publishing the results for the first quarter of the year, Matjaž Kovačič, the President of the OTP banka's Management Board, pointed out that »unlike the prevailing situation in the Slovene financial sector, we perform well and continuously deliver positive results. The global economic conditions are, albeit very slowly, gradually improving. Therefore, I have no doubt that we will be successful in accomplishing this year's financial projections. Both the Bank and the Group will continue to focus on safety and suitability of financial solutions provided to our business partners, customers and shareholders«.
