OTP Group reports robust first‑half 2026 earnings

OTP Group posted a profit after tax of 580 billion Hungarian forints (about €1.56 billion) for the first half of 2026, a 2 % decline from the same period a year earlier, while maintaining a normalized return on equity of 21 %. Consolidated profit after tax reached 483 billion forints (€1.30 billion), driven by annual special taxes, supervisory fees and other one‑off items recorded at the start of the year.

Total income rose 5 % thanks to a 13 % increase in net interest income (19 % when adjusted for exchange‑rate effects). The net interest margin improved by 31 basis points to 4.61 %. Operating expenses grew 12 % (16 % FX‑adjusted) due to wage inflation, staff expansion, IT investment and higher infrastructure, software and marketing costs, leaving the cost‑to‑income ratio at a moderate 42 %.

Credit‑quality indicators remained favourable. The share of loans in phase 3 fell by 0.3 percentage points to 3.2 %, and total risk costs dropped 16 % year‑on‑year. Loan volumes to clients increased 8 % in H1 (17 % YoY when FX‑adjusted), with mortgage lending up 12 % and consumer loans up 7 %. Growth was supported by the Home Start programme in Hungary and by activity in markets such as Hungary and Uzbekistan.