OTP Bank plc announced that it was negotiating to secure a EUR 150 million interbank loan. It will be used for general financing purposes and will carry a floating interest rate of EURIBOR plus 125bps. The loan maturity will be 12 months. The organisation of the loan was mandated to a consortium of banks, including BNP Paribas, Calyon, Commerzbank, Intesa Sanpaolo, Standard Chartered Bank and UniCredit Bank Austria. OTP also got a EUR 200 million subordinated loan from the EBRD in July, as well as a EUR 1.4 billion credit line from the Hungarian government in order to boost lending activities. The bank repaid EUR 700 million of the state loan earlier this month, underlining that it had EUR 5 billion of excess liquidity to finance its operations.

OTP Bank reported earnings results for the third quarter and nine months of 2009. The company reported its third-quarter consolidated IFRS net profit plunged 73% to HUF 45.9 billion from the same period a year earlier as higher risk provisions offset rising operating profit, and because of a one-off item in the base period. Earnings per share came to HUF 170. Operating profit rose 30% to HUF 109.9 billion in Q3 from the same period a year earlier. Net interest income, adjusted for forex gains, gains on swaps and provisioning, climbed 7% to HUF 137.7 billion. Third-quarter ROE fell to 15.9% from 20.5% a year earlier. ROA fell to 1.9% from 2.3% in Q3 2008. Net revenue from fees and commissions dropped 5% to HUF 33.1 billion. Net interest margin was 5.69%, practically level with the same period a year earlier. Pre-tax profit slipped 37% to HUF 40.9 billion - lower than net profit because of a one-off good-will write-off that cut the bank's taxes by HUF 11.7 billion. The company reported consolidated IFRS nine months net profit fell 57% to HUF 130.0 billion from the same period a year earlier as risk provisions rose to HUF 167.5 billion from HUF 45.4 billion. At the same time, operating profit rose 31% to HUF 330.2 billion. Net interest income, adjusted for forex gains, gains on swaps and provisioning, rose 18% to HUF 437.0 billion and net fees and commissions fell 5% to HUF 98.5 billion. ROE fell to 15.6% from 22.9% a year ago. ROA dropped to 1.8% from 2-6% a year ago. Net interest margin rose to 6.13% from 5.55% a year ago.

Nitrogenmuvek has initiated a lawsuit for damages of EUR 93.06 million against OTP Bank with the Municipal Court of Budapest.