• OTP Bank Moldova registered in the first quarter of 2024 a net profit of MDL 126.4 million, with a return on assets with 3.30% and a return on capital with 16.02%.

• Operating profit reached 149.2 million MDL.

• Interest income totaled 175 million MDL.

• The bank maintains its market position related to loan volumes.

OTP Bank Moldova registered a net profit of MDL 126.4 million in the first three months of 2024, supported by solid revenues and optimised administrative expenses.

Operating profit recorded in the first quarter of 2024 was MDL 149.2 million, down 43.9% compared to the same period last year, a similar trend to the evolution of net interest income (-41.5%) as a result of the decrease in the base rate averages from 17.9% in Q1 2023 to 4.4% in Q1 2024.

The rate of non-performing loans increased by 96 basis points compared to the end of 2023, driven by the relaunch of lending duet o a more favorable macroeconomic climate.

The bank maintains its market position related to loan volumes by focusing on sustainable lending and efficient use of resources, both of depositors and of international financial institutions.

In accordance with local reporting standards, the bank's assets reached the level of MDL 20 billion, decreasing by 6% compared to the level recorded at the end of 2023, as a result of the optimization of the balance sheet structure.

OTP Bank Moldova recorded solid profitability, with a return on assets of 3.30% (system average 2.10%) and a return on equity of 16.02% (system average 12.12%).

The bank's capital adequacy ratio reached 23.81% (-143 basis points compared to the end of 2023).

In the first quarter of 2024, OTP Group recorded a net profit of 615.3 million euros, 26% higher than in the first quarter of the previous year, and the ROE reached 22.7%*. In Q1 2024 all Group members posted profits, foreign entities’ profit after tax contribution reached 74%. The full OTP Group report can be consulted here.

OTP Bank Moldova, a subsidiary of OTP Group since 2019, is an integrated and universal provider of financial services. With an approach defined by responsibility, commitment and professionalism, OTP Bank understands the needs of customers and the current market context, and is a reliable financial partner in the provision of financial services.

OTP Group is one of the fastest growing banking groups and one of the leaders in the Central and Eastern European region, with an outstanding profitability indicator and a stable capital and liquidity position. With more than 41,000 employees today in 12 countries in the CEE and Central Asia region, the Group provides universal financial services to more than 17.5 million customers and is the market leader in Hungary, Bulgaria, Serbia, Montenegro and Slovenia.

*Starting from 1Q 2024 an important methodology change has been made. In order to have comparable set of statistics, the numbers for 1Q and 4Q 2023 are presented in the Group report under the old and new methodology. The balance sheet components, however, were not affected by these changes, they applied only for P&L items and financial indicators derived from them.