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Hungary: OTP’s Profits Lower Than Expected for Q4

Published: March 8, 2013; 17:51 · (Vindobona)

OTP said it had to recover from losses from previous year. Income in the core domestic business fell 17 % to HUF 94.6 bn in 2012. Still, net profits are up 46 %.

Hungary: OTP’s Profits Lower Than Expected for Q4 / Picture: © OTP Bank

Central Europe’s biggest independent lender showed profits that were lower than estimated. On Thursday it announed a quaterly net profit of HUF 26.15bn ($ 114.43m) which is notably lower than the median forcast of HUF 30bn.

Yet, net profits for the whole year increased 46 % to HUF 122.6bn. OTC explains in a report that the considerably high profits were because the amount of…

This article includes a total of 327 words.

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