OTP Bank Nyrt Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

OTP Bank Nyrt (BUSE:OTP) Full Year 2023 Results

Key Financial Results

• Revenue: Ft2.31t (up 57% from FY 2022).
• Net income: Ft1.01t (up 202% from FY 2022).
• Profit margin: 44% (up from 23% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: Ft3,774 (up from Ft1,246 in FY 2022).

OTP Banking Performance Indicators

• Non-performing loans: 4.32% (down from 4.89% in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

OTP Bank Nyrt Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 1.3%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 3.2% growth forecast for the Banks industry in Europe.

Performance of the market in Hungary.

The company's shares are down 3.7% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for OTP Bank Nyrt (1 makes us a bit uncomfortable!) that you need to take into consideration.

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